Diamonds and Dogs
Cannabis stocks are higher. Canadian marijuana giant, Canopy Growth (CGC) is up 20% after easily beating estimates. The earnings were helped by bigger store count and cost cuts, but the company continues to lose money. Sales did grow 49% to CC$123.7 million. Gross cash balance shrank to $2.3 billion from $2.7 billion, but Canopy is in a much better position than their cash strapped rivals.
Smile Direct Club (SDC) not smiling. The company that provides low-cost alternatives to teeth-straightening is down 9% today and down since coming public back in September. The company blames "organized dentistry" for trying to block thier progress, but there have been a number of complaints that the Smile Direct products don't work as advertised. NBC recently released a report that alleges the company has harmed clients.