Friday's financialswill be a turning point for Canopy stock or not.
Without a good financial, at best we can expect the same or a contuing dwindle of shareprice.
Keep in mind that there is a huge oversupply in North America and probably the world that has to be rightsized.
Same for too many potpreneurs all vying for the same dollar.
For the US, the problem is greater because over half of the potpreneurs are black market players who have huge advantages to those trying to be legal because they don't conform to any of the safety rules or pay any taxes for the most part.
Canopy also has to deliver on their Americanization to get Canopy stock swapped out for Acreage shares and start seriously doing business in all of the States that Acreage has legal established operations.
Friday's financials might draw out Team Klein to state their allegiance to Canopy shareholders or Constellation. If Klein would confirm that the Canopy/Acreage deal is going to happen as planned, I could see that alone could bump up Canopy's shareprice by 50%.
Too many informed investors see a "sting" built in where we continue to get negative earnings reports such that Canopy declares bankruptcy and STZ lending comes in to collect the leaned out model of Canopy for the outstanding
Barring some anxiously awaited good news in regards to US pot legalization, Canopy needs to push sales of good, safe, clean and inspected pot and extracts for the US marketplace as flower and oils or pharma status skus.
I am hugely dissapointed that most of the big players of potential have backed off of cannabinoid beverages which I believe are going to be gamechanging and most knowledgeable investors know that pharma and beverages lead the way for happy investors because they are high margin and rapid turnover.
Even beverage alcohol who were looking hard at infusing their alcohol bevies with cannabinoids instead of alcohol to gain the health advantage are afraid to rock their boat, I guess, because they still have alcohol revenue while this sorts itself out to see if cannabinoid infused are going to be as successful as when they studied on it.
Canopy was the first serious beverage entrant that mothballed their cannabis drink bottling, possibly because Canada took so long to get their stuff together such that you could buy more than 5 drinks per visit to your retailer.
Despite intentions I don't think we cracked that US market via the CBD or Delta 9 THC from hemp loophole that others are using to stay ahead of the enforcers.
I expect more black ink on Friday but not as much.
glta and dyodd