The Canadian marijuana company closed at $4.46 a share on Friday of last week, opened at $4.37 on Monday, and dropped to as low as $3.79, its 52-week low, by Thursday afternoon.
The NASDAQ is down 4.4% for the week, and marijuana stocks are also down significantly, with the Advisor Shares Pure Cannabis ETF falling 10.34% over the past five days.
The lone bright spot on the report was that adjusted earnings before interest, taxes, depreciation and amortization represented a loss of CA$ 12.1 million, an improvement over a loss of CA$ 19.7 million year over year.
In the long term, however, the cannabis stock isn’t likely to see its shares rise significantly until it can show it is headed in the right direction, particularly with its adjusted EBITDA.