Investors are still leery fromall the complexity and the time delay to deliver this progress and last hope for Canopy shareholders.
Some are still doubtful because of the way this has been handled.
Team Klein cut to the bone to lean out Canopy to the parts of most potential and the focus is clearly on the US.
We will see if this dribbles along to becoming a US MSO or if we can go full tilt and get the Acreage deal done.
Still no explanation of what the new formula for the Acreage rto is but I am sure there is some trimming coming to Acreage shareholders after the consolidation of Canopy shares at 1 for 10.
Even at the old formula of 2 or 3 for 1 share of Canopy it wouldn't come close to making Acreage shareholders whole. Heaven forbid that it is now 10x following suit with the Canopy consolidation.
Will Acreage shareholders have to give up 20 or 30 shares to convert to Canopy shares and what will fall through the cracks of the new holding company CUSA?
It is time for Team Klein to deliver on their complex deal and to keep shareholders first in mind.
Until the uncertainty is minimized, I am not optimistic given the supply and demand situation and the fact that there are too many players in competition, not to mention the black market/ Cartel and Gang faction that I guesstimate at over 50% of the market.
Lots to do for American politicians, firstly, they need to screw up their cajones in an effort to legalize marijuana and get right to the Federal level to get the whole country on one page with one set of rules.
I have great concerns over the deal that Team Klein pushed through with shareholders giving up their votes and unlimited share float. It looks like another way to pilfer the coffers of Canopy and Acreage shareholders.
The safest place for an investment in this camp seems to be Constellation who have first right to the collaterol if Klein tanks Canopy.
Fugly is yet to come for potpreneurs as a serious rightsizing is imminent for this to be healthy and viable.
glta and dyodd