Constellation STZmade history and made Canopy Growth. They dipped their toe in the murky water, first at $20 plus and then came back @$48, raising the bar even higher and truly putting Canopy on the map. They saw what Bruce Linton saw and confirmed that he was on the right track. That move solidified the Canadian greenrush as the real deal and not a flash in the pan.
Big money carries weight and power and when I posted before that I was surprised that they canned Bruce, I should have clarified it as I was surprised they canned him this soon.
Big business Constellation's job is to anticipate the future and move towards it before the crowd. They got on board the greenrush when everybody else were fearful and most rational investors could see that they have the clout and financial ability to control this space. The good news is that they picked Canopy as being what they wanted to work with.
Constellation will bring a more rational approach with the bottom line in mind at all times. Maybe they felt that Bruce wasn't getting good value for the money being spent (Constellation's money)! Most here think that Bruce was a trailblazer and his vision was compromised of picking up pieces of the puzzle, that he didn't have and most of those deals seemed to fit the big picture of being a world dominant company. Constellation set the bar in the $48 range which some think was irrational at the time! They paid a premium for future value and helped to make investors realize that this is a real business. There was also concern about THC infused beverages cannibalizing their market and chose to be a partner/leader than sitting on the outside looking in. A lot of others followed. Constellation has the braintrust as a world leader that consistently rewards shareholders to carry this forward. Another couple of quarters and I expect the bottomline to look a lot better and rationalize the shareprice with normal business fundamental analysis. It is inevitable that this will happen and Constellation very probably swings a bigger hammer to get the Feds to make the right moves. The US greenrush is going to blow investors away and the Constellation/Canopy/Acreage deal is going to be the Boss. glta and dyodd