Home / Going-concern warnings / Canopy Growth Corp
Filed 2025-11-07 路 Form 10-Q 路 Accession 0001193125-25-270960 small
Price before filing: $1.09 (2025-11-06 close, split/dividend-adjusted)
Market cap at flag: $404.3M (2025-11-07) 路 Latest: $301.1M (2026-10-16)
| Window | CGC | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +0.0% | +2.0% | -2.0% | 2025-12-08 |
| 90 days | -0.9% | +1.4% | -2.3% | 2026-02-05 |
| 180 days | +5.5% | +10.1% | -4.6% | 2026-05-06 |
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: 6 insiders sold $109K (7 sales); 1 insider bought $50K (1 purchase)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 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 |
| 2025-09-22 | Mongeau Luc Chief Executive Officer, Director | Purchase | 27,469 | $1.82 | $50K | no | Form 4 |
| 2025-09-29 | ATKINS M SHAN Director | Sale | 2,216 | $1.58 | $4K | no | Form 4 |
| 2025-09-29 | Kruh Willy Director | Sale | 10,451 | $1.58 | $17K | no | Form 4 |
| 2025-09-29 | Lazzarato David Angelo Director | Sale | 15,677 | $1.58 | $25K | no | Form 4 |
| 2025-09-29 | Yanofsky Theresa Director | Sale | 10,408 | $1.58 | $16K | no | Form 4 |
| 2025-11-07: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-08-09 to 2025-12-07. 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.
"As a result, the conditions that previously raised substantial doubt about the Company's ability to continue as a going concern have been resolved."
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 2025-09-30)
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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