Canopy seems to be the hardest hitof any serious player in the industry.
The whole pot biz is discombobulated because of the failure of the US and other government officials to come up with some proper decent Federal legislation to clarify a direction and provide access to all of the banking and brokering tools that every other business in the world has access to.
Investors are more than frustrated and the fact is that there was so much enthusiasm and unwarranted money being made that it rapidly imploded by oversupply of product and too many players.
Then come the big, hardnosed players like STZ with a very complicated plan that may or may not come together but I have to believe that it will, somehow, sometime.
Allowing the uncertainty to control the narrative has investors salvaging their investment capital and the cheaper the stock becomes the more desirable it is for them that are likely to take total control.
We can only hope that STZ treats their shareholders of their, now controlled Canopy as well as they have treated their STZ shareholders!
It is going to be bumpy but I think they will stay the course that they have planned but could just buy it out at the market. The $5 billion they coughed up was rich for control of Canopy but they have the bigger plan of all of those US likeminded companies with great brands that they picked up while they were distressed with the intentions of putting together a Mcgilla of a pot company doing business on US soil with all of the experience, knowledge gained, recipes and IP learned on Canadian soil where the Canadian government was innovative enough to launch this new vice but too stupid to welcome it with cooperative legislation for what the players needed to be successful.
At least the US is navigable enough that they have some MSOs making money by strategically making their way through the over-regulated multitude of law and policy by every level of government including the dog catcher, it seems.
The US has the opportunity to put together the best parts of all the bills presented that are pro-marijuana and crunch it down to something workable for the survivors which I believe will be the MSOs and LPs who are all in while the little hopefuls don't stand a chance, statistically.
It is going to be painful and take a while for this to sort itself out and feeding frenzies will prevail while other just sink with the investors money.
glta and dyodd