Canopy Growth Polska, a subsidiary of Canopy Growth, is withdrawing its popular medical marijuana strain Penelope from the Polish market due to aging and quality instability. The company is working to introduce new strains with a similar profile to Penelope, while the Polish government is tightening regulations on medical marijuana amid its growing popularity.
Shares of Canopy Growth Corp (CGC) plummeted this week after the DEA delayed its decision on rescheduling cannabis. The postponement, which pushes the ruling to after the November presidential election, has injected uncertainty into the cannabis market, particularly impacting companies like Canopy Growth that were hoping for a favorable outcome. The DEA’s decision creates a challenging landscape for cannabis stocks, with potential regulatory hurdles and uncertainty surrounding the U.S. market’s future.
Canopy Growth Corporation, a leading cannabis company, announced that CEO David Klein will retire after the company’s current fiscal year ending March 31, 2025. Klein will continue to serve as CEO and board member until a successor is chosen. The company is initiating a search for a new CEO, aiming to identify the right candidate to lead Canopy through continued growth in the global cannabis market.
