RE:Canopy msg to SPR
HawkII wrote: This message ..."The cuts were triggered by a restructuring Canopy began after finding that the Canadian recreational pot market is developing slower than it anticipated and after facing profitability challenges."
(Source: https://ca.finance.yahoo.com/news/canopy-growth-lays-off-more-163246359.html)
combined with this fact "Over the last two years, Beverages have seen steady growth, both in overall sales and market share. Market share has gone up 0.22%, and the overall market has doubled, going from a little under $1.5 million to about $3 million. However, that’s still a relatively small portion of the overall cannabis market. Beverages, at their peak market share, were only 1.42% of sales. "
(Source: https://www.headset.io/industry-reports/is-weed-beer-the-new-beer-a-deep-dive-into-cannabis-infused-beverages)
means SPR's market cap is still massively overvalued. Reminder that October 24th is fast approaching when Sen can realize on his secured loan .... and with todays announcement about delayed financials good luck getting any additional info out of mgmt before that very important date.
yeah this will go down this week. Every week it's looking like Sen is going to fold this company.
bad news after bad news and zero good news in sight.