In the past few weeks, Canopy Growth has continued to downsize its operations in order for it to compete on a global scale. The company is now focusing more on large scale production with fewer resources and less manpower.
The “where will canopy growth be in 5 years” is a question that many cannabis investors are asking themselves. The company has been downsizing and looking for other places to grow their business.
Canopy Growth Corporation (CGC) has launched a range of new measures aimed at lowering costs and increasing profitability. Canopy Growth Corporation is taking the following steps:
- decreasing per-gram cultivation costs via enhanced cultivation-related efficiency and facilities upgrades in the Company’s Canadian cannabis business, cutting COGS;
- Putting in place a flexible manufacturing infrastructure that allows for contract manufacture of particular product configurations;
- Indirect cost reductions and efficiency in the Company’s supplier chain and procurement;
- Aligning selling, general and administrative costs (“SG&A”) with short-term business expectations by reducing third-party professional fees and office costs; and
- To promote process-related efficiency, the organization will be further streamlined.
“In order to achieve profitability and power growth, we’re taking essential steps to transform Canopy Growth into a more nimble company with a clear focus on the areas where we have the most promise.” These important adjustments are being taken to ensure that the size and scope of our operations match current market realities and will support our company’s long-term viability,” said David Klein, CEO of Canopy Growth.
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The “acb stock” is a cannabis company that has been downsized by Canopy Growth. The company has made an announcement saying that they will be splitting into two separate entities.
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