another try to not offend somebodyWEED and ACRG is currently in a beat down state of around $700 Million.
Constellation put up $5 billion initially and more later and this conglomeration of company reputedly has a billion of revenue.
Constellation being the largest shareholder of Canopy and Acreage has barely flinched, so what do they know.
This could be ANOTHER case of the shortseller/marketmakers killing off a company of good potential.
This kind of negative shareprice action deserves a nr from Klein explaining what the problem is.
Maybe there is too much to be done by too many parties like SAFE or some form of decriminalization or outright legalization plus that being combined with the mega-merger that Canopy/STZ is trying to pull off here to get the potential of this merger to a favourable market, that being the USA.
Canopy is plugging the drain in Canada, I guess, from the lack of cooperation from the law and policy guys charged with implementing the changes that the industry is asking for.
Klein has changed up from US establishing a footprint dependant on decriminalization to, we are coming and the recent action to join Canopy with Acreage and whatever other companies they have invested in to the new listing of Canopy USA.
That is a huge cluster of things to deal with and getting on with it is fraught with pitfalls and delays to sort out the legality and to execute.
Marijuana is still a Federal no-no with heavy repercussions and US business is very protectionist about coming first.
No doubt the MSOs are fearful of what Canopy and Acreage together with the other half dozen companies with winning products and potential will bring.
If I am not mistaken Acreage is US id'd and the main shareholder of Canopy shares is Constellation Brands which is another US id.
The big question is can Constellation bring the deal home before the marketmakers kill the potential or is Constellation a part of the problem!
Lots of talk about SAFE which is probably back-burnered in favor of debt ceiling which is US politics at its worse, hagglin' and foot draggin' to get it done.
I notice other posters had identified the problem that is the Cartel heavy stakes, and that includes gangs and other contrarion interests who may just be forcing heavy stakes committment (death and destruction) on the people charged with getting on with marijuana legalization.
Pot is the segway for government to screw up their courage and deal with this issue before they toss them the keys to the country and they need to put everything they've got behind this first step to eradicate the killers from the business.
There are marijuana and hemp companies of good potential looking for a signal that the US is going to endorse legal and eliminate the underground marketplayers.
I honestly don't know how this Canopy/Acreage deal is going to unfold but I beleive that there is a lot of value there slipping away from rightful shareholders.
Lawyers showing up are a nasty development but most of them only want players with a half million dollar losses, but it also means they feel there is enough value left for them to peel off their percentage.
I think Canopy USA will resume a leadership position but dyodd.
glta