RE:RE:Canopy has beenI can only talk about my experiences with a half dozen that I stayed invested in and they all tanked back to pre-consolidation share price within a very short time.
This is one of the best tools that management of these companies has come up with to "save listings". It might buy some time as the confusion becomes reality for investors.
To me, reverse splitting is just the easy way out for management and why is Canopy management going for 15 or 25 multiples when we only need to halve the sharefloat to get back in compliance.
This is about the worst news to be disseminated by Canopy since their inception imho!
We have been told that we are on the verge of black ink and if we could include Acreage revenues we would be positive cash flow. What changed?
The only shareholders that I see benefiting from this consolidation of WEED is Constellation shareholders and their finance arm.
Canopy shareholders didn't need this if they are really trying to get WEED cash flow positive.
Hopefully the recent news out of the politiians in the US in regards to rescheduling pot down to where it should be will get passed and accepted by pot investors as legalization that should open all of the doors for all of the tools that every other US business has access to, like banking, brokering and such.
If we get punted from the Nasdaq, we will still trade on the TSX which is Canada's major blue chip exchange or the CSE junior where most of the US pot companies are listed because Canada is still legal and provides banking and brokering tools without the heavy hand that the US Fed is weilding.
Vote NO for consolidating Canopy shares!