Home / Going-concern warnings / Canopy Growth Corp
Filed 2025-08-08 路 Form 10-Q 路 Accession 0001193125-25-175982 small
Price before filing: $1.05 (2025-08-07 close, split/dividend-adjusted)
Market cap at flag: $342.5M (2025-08-08) 路 Latest: $301.1M (2026-10-16)
| Window | CGC | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +28.6% | +2.6% | +26.0% | 2025-09-08 |
| 90 days | +3.8% | +6.3% | -2.5% | 2025-11-06 |
| 180 days | +10.5% | +9.2% | +1.3% | 2026-02-04 |
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: 5 insiders sold $122K (6 sales)
30 days after: 2 insiders sold $48K (3 sales)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 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 |
| 2025-06-30 | Kruh Willy Director | Sale | 10,468 | $1.23 | $13K | no | Form 4 |
| 2025-06-30 | Lazzarato David Angelo Director | Sale | 15,701 | $1.23 | $19K | no | Form 4 |
| 2025-06-30 | Yanofsky Theresa Director | Sale | 10,425 | $1.23 | $13K | no | Form 4 |
| 2025-08-08: red flag filed | |||||||
| 2025-08-18 | Gedeon Christelle See Remarks | Sale | 4,528 | $1.86 | $8K | no | Form 4 |
| 2025-08-22 | Gedeon Christelle See Remarks | Sale | 16,929 | $1.74 | $29K | no | Form 4 |
| 2025-08-22 | Stewart Thomas Carlton See Remarks | Sale | 5,768 | $1.74 | $10K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-05-10 to 2025-09-07. 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.
"In the Company's consolidated financial statements for the fiscal year ended March 31, 2023, the Company raised substantial doubt about its ability to continue as a going concern for at least twelve months from the issuance of those consolidated financial statements, due to certain material debt obligations coming due in the short-term, recurring losses from operations and additional required financing to fund the..."
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: management disclosure in Form 10-Q (period 2025-06-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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