The Future Looks Bright For CanopyAs previously stated, Bruce did an incredible job and made me very rich (been in this stock 5 years), but it was time to Ramble On.
The writing on the wall began with the hiring of Mike Lee as new CFO a month ago. Mike was CFO for a large division within Constellation. I was never really impressed with Tim Saunders as CFO as I listened to him struggling to deliver the financial results of the last few quarters. He never struck me as a star that could take Canopy globally as CFO.
Bruce and Mark were also not the ones to take this company globally as they were not qualified, given their past experience. This is the evolution of a company that started locally (Smiths Falls), grew nationally and then started to expand globally. But the same skill set that got Canopy to this stage is not the skill set needed to compete on the global stage going forward.
I previously sold all of my 25% non-core position, all in the mid $60's as I had difficulty with their revenue numbers and the employee stock options free for all. My 25% non-core position is now in very secure dividend/interest paying investments (PSA and ZZZD) as I also think we are due for a major stock marke correction in the near future. I will hold my 75% core position as I think this company wll do very well for us going forward. The future does look bright.
GLTA