Canopy Growth Corp.’s stock was down 9.5% to $4.56 a share on Tuesday after the company said it agreed to sell $30 million in units in a private placement with institutional investors.
While it’s backed by deep-pocketed liquor giant Constellation Brands Inc.,
STZ,
Canopy Growth
CGC,
WEED,
has yet to turn a profit and it’s been making moves to strengthen its balance sheet.
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