Home / Going-concern warnings / Canopy Growth Corp
Filed 2025-05-30 路 Form 10-K 路 Accession 0000950170-25-079317 micro
Price before filing: $1.71 (2025-05-29 close, split/dividend-adjusted)
Market cap at flag: $248.6M (2025-05-30) 路 Latest: $301.1M (2026-10-16)
| Window | CGC | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -28.7% | +5.0% | -33.7% | 2025-06-30 |
| 90 days | +9.9% | +10.3% | -0.4% | 2025-08-28 |
| 180 days | -29.2% | +15.9% | -45.1% | 2025-11-26 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 3 insiders sold $6K (3 sales)
30 days after: 2 insiders sold $77K (3 sales)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-03-31 | Kruh Willy Director | Sale | 2,012 | $0.92 | $2K | no | Form 4 |
| 2025-03-31 | Lazzarato David Angelo Director | Sale | 3,004 | $0.92 | $3K | no | Form 4 |
| 2025-03-31 | Yanofsky Theresa Director | Sale | 2,004 | $0.92 | $2K | no | Form 4 |
| 2025-05-30: red flag filed | |||||||
| 2025-06-16 | Gedeon Christelle See Remarks | Sale | 9,555 | $1.47 | $14K | no | Form 4 |
| 2025-06-16 | Hong Judy Eun Joo Chief Financial Officer | Sale | 11,339 | $2.00 | $23K | no | Form 4 |
| 2025-06-16 | Hong Judy Eun Joo Chief Financial Officer | Sale | 27,339 | $1.47 | $40K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-03-01 to 2025-06-29. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"As discussed in Note 2 to the consolidated financial statements, the Company has material debt obligations coming due in the short-term, has suffered recurring losses from operations and requires additional capital to fund its operations, which raise substantial doubt about its ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: independent auditor report in Form 10-K (period 2025-03-31)
Why this score: in auditor's report
Read the original filing on SEC.gov →
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Not investment advice. Automated summary; verify against the filing.
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