Beverages Canopy will not repeat the ACB experience after earnings are released as they are not in the same position of clarity on all ongoing challenges and past mistakes. ACB has been clear (under new, experienced and motivated professionals) on all issues and past mistakes.
As previously mentioned, the delay in beverage production and distribution indicates Constellation is hugely dissapointed that THC infused beverages, presented to them as samples of proposed end product, taste like cr@p! Constellation has a reputation to uphold. It is a 35 billion $ company whose stock had achieved widow and orpahan status among investors. When the Canopy deal was initially announced the existing Constellation shareholders were negative regarding financial impact to their existing company. Unfortunately they were correct, in a big way! Tomorrows release and update should, but probably won't, contain information around the vast amounts of time, effort and loads of money which has been mispent on beverage production facilities.
According to the American States which have legalized Cannabis, beverages represent 2--3 percent of sales. In other words, the appropriate amount of due diigence which should have been done, was not. Chasing 2-3 percent of market by spending huge amounts of cash is not a strategy which can be defended! The cash burn and future capital requirements is outlined in the earlier released short report.
While I realize that WEED shareholders will quickly defend by stating that Constellation will step up. Really? The lesson to come is the downside of having a huge partner in any business. Since the investment, only depressing news and performance has been on the menu for Constellation. If the truth is not revealed tomorrow we are left with a ticking time bomb! The beverage facility will not be allowed to remain idle for much longer before a "reasonable" explanation will be demanded.
Personally I am looking forward to enjoying a THC infused bevvie which tastes like swill and looks even worse.