So Disappointed With Canopy Right NowI've sold a major part of my core position and will wait to see when this bloodbath is over to re-enter. Canopy is the most shorted pot stock on any major index right now and the shorts are in full control.
CEO Zekulin comes out and says they will not be profitable for 3-5 years. What a idiotic statement to make in the wake of everything that's going on with Canopy right now. This is the guy who was part of the $28.5 million in additional executive compensation last Fall. Can't wait until a new CEO is hired and he's gone, but he'll get a $1 million cash payout, since Bruce got $1.5 million.
This company has done nothing to help itself in the last month. I folllow them on Twitter and there has been nothing posted for over 3 weeks. They had the New York Hemp facility grand opening at the end of July and then I couldn't find anything on their website with pictures or video of it or a concept drawing of the facility, what a lost opportunity. As to their international footprint interactive map for the USA, there is nothing on it relating to the NY Hemp facility or ebbu which is in Colorado, but they do show Battelle which they are doing only research with, what a joke.
I hope one of the first things that the new CEO does, after Zekulin is walked out, is clean house with their Investor/Media and Communications staff (Burns/O'Hara and Sinclair) who don't appear to be able to do their jobs in promoting and communicating what a great company this is. Canopy seems to be doing very little to help itself out right now. It's a company in limbo waiting for it's new leader, which can't come fast enough.