Canopy’s ER and stock price ... So far Canopy's ER means stock price down 20%/30%, nothing helps, neither financials, nor guidance. Great companies provide good guidance and bring optimism during ER in the form of expected growth and upcoming contracts/projects despite losses in the beginning years and that's why stock price goes up in spite of losses, for example, Shopify ...
During Bruce's time, he used to show up often in media interviews talking about how the industry was doing, how Canopy was doing great things and how the future will change your everything and that created an atmosphere that Canopy is world leader and Bruce is an icon. Probably, that's how Constellation also fell in love with Canopy and Bruce and invested $5b. It's not that Canopy did great thing, it's Bruce prsentes like that and that's an art.
Interestingly, in a span of one year, Constellation fires their five billion dollar man for whatever reasons. Of course, once Bruce himself told me that it was more of an idea clash more than anything (not bragging that I know Bruce so much, it was more of an incidental social media chat between us).
If you fall in love and make big investment based on that, you should give it a time to see if it works out. Less than one year is never enough to fire an iconic figure like Bruce. So far they haven't done any better, did they?
Wish there would be an ER from Canopy, where there will be so much positivity and stock price goes up 20/30%. May be it will come some day!