Canopy Growth USA division aka Acreage Holdings has an uptick today for the floating shares which I think are being totally ignored by most investors interested in Canopy Growth as a major player.
Those floating shares are supposed to be redeemable with Canopy for $6 ish a share with a triggering event if/when Canopy takes full control of Acreage ! Those floating shares are $1.40 ish today.
Some concerns are that Canopy won't pull the trigger on Acreage but I tend to think, why wouldn't they because they need everything that Acreage has for rapid expansion to the US when the risk is legislated out of the equation. $30 million cash has already been paid to write the deal with Acreage and the rest is just share certificates to cinch the deal for the fixed shares.
Despite the negativety for the pot players right now, there are going to be winners and losers and Canopy has Constellation backing and bringing hardcore entrepreneurship to turn this into another successful division of Constellation with a 48 billion dollar marketcap.
They also just built 300k square foot facility in New York for rapid expansion.
My gut tells me there is a huge greenrush waiting to happen for when the US politicians legislate acceptance of the wishes of the voters for legal rec/med marijuana without risk of criminal charges, jail and seizure of assets which is why Canadian LPs are waiting, sort of!