Well as I'm sitting here watching this Canopy dumpster fire (yes I'm aware everything is down right now), I can't help but think at this price point, what the hell the point is of voting yes to this deal.
initially, I was ok with it. Didn't like it but the potential was there to expand and grow on the conversion. Canopy has done absolutely nothing but sh!t the bed since. Down 30%. With a cash burn rate that they have, I don't expect anything good to come out of their financials in the beginning of June.
even if this deal was voted down as a No, seriously, how low would Supreme shares be? Even if they were low 0.20's or high teens, it's still better than being a part of canopy. I will be changing my vote to a no when required. What have we had, 2 green days since this was announced?!?!
for those of you who want to push canopy, go nuts. But do yourself a favour and compare canopy to curaleaf. Canopy will not be going anywhere, anytime soon unless HUGE changes take place internally. $27/share with canopy vs $17.50 Curaleaf. Curaleaf just had a $260 million dollar QUARTER. Canopy will be nowhere near this number. Can't wait to exit completely here and should have done so immediately. I was completely wrong to think that this would have a green future being a part of WEED. I'm still green on the deal but I want nothing to do with Canadian cannabis CO's any longer. MSO's only (and that hurts me to say as I'm Canadian). But you gotta follow the money and canopy does not appear to be where the money is at.