The Globe and Mail reports in its Thursday edition that Eight Capital analyst Ty Collin has reaffirmed his "sell" rating for Canopy Growth. The Globe's David Leeder writes in the Eye On Equities column that Mr. Collin slashed his share target to zero from $1.75. Analysts on average target the shares at $1.78. Mr. Collin says in a note: "We believe it is no longer appropriate to value Canopy as a going concern, given our view that it has a) less than 12 months of cash runway, b) a lack of viable financing alternatives, and c) large ongoing losses without a clear path to profitability. We therefore apply an asset-based/breakup valuation for Canopy, where we find a net asset value of zero after accounting for the company's substantial debts. With the recent bankruptcy of leading cannabis retailer Fire & Flower and the distressed sale of Hexo to Tilray, we think investors should be awake to the fact that no Canadian cannabis company is too big to fail in this environment. ... We believe the company continues to consume cash at a rate that will deplete its coffers within the next year absent drastic interventions and a speedy slashing of cash costs, which we deem improbable in view of Canopy's track record."