Investors liked the CEO newsand Canopy is still making acquisitions and have burned through a little more of that Constellation dough. The new guy looks like more of a fundamentalist than a dreamer and Constellation are trying to stop some bleed down.
Canopy was left in great shape when they showed Linton the side door and strong enough to call itself the world leader and innovator of building a cannabinoid business.
Potpreneurship is going to depend on proactive management with vision and commonsense to see where the future lies and move towards it.
I noticed lots of snivelling about revenue in Canada but don't forget that the legislators move at the speed of politics and err on the side of caution. Phase 2 edibles, for me, was always where the money was going to be made and companies were going to show profits. Government pretty much strangled the launch with a 60 day review period of the new edibles, plain brown paper wrapping and no pzazz from advertising and promotion. 60 days is rapidly becoming 90 or more because the infrastructure is still taking shape to allow dispensing these products.
Today the volume of shares traded Stateside is triple what it is in Canada and Canopy is there, segwaying their way in with cbd products which I sense they feel comfortable enough to launch despite all the fuzzy rules still being worked out south of the border.
Canopy has also invested heavily in a beverage line for Canada, which is probably where a good portion of Constellation's dough went. My thinking on this is that Constellation put up billions of dollars to protect themselves from diminishing sales of their existing lines and that they can see that society is open armed for cannabinoid infused, game changing beverages for fun and health. Anybody that experienced the 60's probably has awareness that evil weed ain't so bad and legalization is a minor issue. By comparison, the detriment of alcohol and opiates is huge compared to weed and fewer calories and sugar are great selling points. If you get a little relief from your arthritis or anxiety when you get your buzz on, is a good thing. More and more diabetics and large people should probably stay clear of alcohol and until now there hasn't been much out there. We still have to overcome some backward rules in regards to alcohol and cannabinoids being served together because a beer and a joint at the bar has been going on for decades. Then there's the people that can't smoke because of breathing problems. Bring on the edibles. Beverages are going to be huge and gamechanging and all of those liquor guys know it and are positioning for it now.
When Canopy perseveres and gets some more lobbying done to launch these products with the same magic that is allowed Stateside as far as nice packaging and advertising and our products are more readily available at bars and restaurants, the revenue will follow. glta and dyodd