RE:Heading to $0Well, it wasn't a complete castration! You've still got a tenth of what you had.
Be Happy, we're told. It was excessive and premature to inflict this on shareholders.
There will be more justification, backed by bad financials as the whole pot industry succumbs to the over supply and too many players, law of accounting principals that is the ultimate tool used to assess the value of a company.
Klein still has a chance to reverse that dastardly deed but he's got to prove that he isn't deliberately tanking this and show that he is going to take Canopy and Acreage shareholders with the new US holding company.
That is the proper thing to do.
If he does tank Canopy and Acreage shareholders along with then it will weight heavily on him as a business mover and shaker to have to add the failure of one of the leading marijuana companies on the exchanges along with that BioSteel deal.
As someone said, he was chairman while Bruce charmed STZ out of $5 billion C and blames everything on the guy who ran the shares up to the $70 range.
Hard to believe that Canopy was real close to the marketcap of STZ at over $20 billion until Klein showed up.
There are people bought in to tank companies on the qt who demand really nice pay packages to justify living with themselves as they screw-over shareholders, lay off good people and take the value of the company to the brink.
Brink is yet to come and the only thing that will change that might be, US legalization or mass attrition of about 95% of the potpreneurs, most of whom shouldn't be here.\
On the bright side, when CUSA takes the reigns, this could be a multi-bagger investment again with a change of intention by management to build a major player in the cannabinoid business, if it is publicly traded.
glta and dyodd