Benchmark analyst Mike Hickey noted that Canopy Growth reported "disappointing" Q1 sales and continued to struggle with profitability and he suspects investors are now favoring disciplined growth and a path to profitability as the global cannabis market has not been achieving the presumed near-term growth. He noted, though, that Canopy realized an "enormous" harvest in Q1, which leads Hickey to anticipate near-term performance trends will improve. The analyst, who also points to Canadian legalization of new cannabis product categories and the U.S. CBD market as upcoming catalysts, keeps a Buy rating on Canopy shares but lowered his price target on the stock to C$60 from C$100.

In this week's "Rising High," The Fly's recurring series focused on cannabis and psychedelic stock news, The Fly looks back on study dosing, a completed acquisition and a research partnership. ATAI ANNOUNCES DOSING... To see the rest of the story go to thefly.com. See Story Here