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Less than a week after the release of its latest quarterly results, Canopy Growth Corp.
GSC -0.26%
CANNABIS, -0.46%
the largest pot company in terms of market value, had to issue a correction. The Canadian Cannabis Society said it was reformulating an indicator in the publication of the third quarter and nine months of last week after a formula error in a spreadsheet. The company based in Smiths Falls, Ontario, stated that the nine-month adjusted EBITDA should have been C $ 155.2 million ($ 117.8 million), but that it had been incorrectly $ 69.0 million. "The loss of adjusted EBITDA for the quarter ended December 31, 2018 was correct as published, as well as all prior quarters as published," the company said in a statement. Canopy published the figures at the end of February 15, a publication closely watched by investors in the new legal sector. The company has barely managed to publish the results in the database of the Canadian securities regulator, just before the expiration of a 45-day period. The company has announced a 282% increase in its quarterly turnover since marijuana became legal in Canada, but its revenues were thwarted by paper losses. Equities were down 3.7% pre-market, but up 105% in the last 12 months, while the S & P 500
SPX, + 0.18%
gained 3.1%.
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