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Canopy's net revenue plunges as challenges pile up in Canadian cannabis sector

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Canopy Growth's net revenue plunged 15% compared to the previous quarter, which the Ontario-based company attributed to a "challenging" period in the Canadian cannabis sector marked by provincial wholesalers reducing purchases and disappointing retail store openings. Canada's biggest cannabis producer by market capitalization said revenue adjustments ballooned 309% sequentially to 32.7 million Canadian dollars ($25 million). That primarily relates to returns and pricing adjustments for the com...

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