Cannabis Watch: Canopy Growth earnings show decline in recreational pot sales since launch of legal weed in Canada

The world’s largest pot company said Thursday that recreational pot sales in Canada declined from the previous quarter, but continued to promise increased production of marijuana to meet demand.

Canopy Growth Corp. CGC, +2.20%WEED, +1.44% reported fiscal fourth-quarter net losses of C$323.4 million, or 98 cents a share, from a loss of C$54.4 million in the year-ago quarter. Much of that loss — more than C$130 million — was on paper, as Canopy had to account for the growth of its stock price in the first three months of the calendar year because of rules regarding the company’s convertible debt.

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