SECTrump is banging the war drums for the SEC, I think because they haven't done enough, to bolster his view on cryptocurrency, bitcoin and such.
I view this latest entry to the financial picture as an anonymous way for the shady members of the business community to black out a bunch of the w's, who, what, when, where and why of their financial dealings to avoid jail, taxes, disgruntled shareholders with a whole plethora of new investment vehicles under the cryptochain currency banner.
Keeping investors confused about investment vehicles is highly profitable and the SEC needs to be cracked down on but also need more resources, especially people charged with routing out the unscrupulous and the lawless.
The pot and hemp industry has the stigma of being illegal drug trafficking despite the US moving towards total legalization one State at a time. The newsflash hasn't reached everybody but most certainly has investor interest from the good old days when excitement ran wild and money was made hand over fist by the early and brave investors who see a positive future for the new vice and pharma field.
Canopy Growth was the world leader for this new field of commerce that generated so much excitement and profit for so many investors.
Interestingly enough it was Constellation Brands that contributed heavily to the Canopy greenrush with a $5 billion investment for less than control.
They studied a bit on it and decided that Canopy's success at the time needed to be re-evaluated and have a different measuring stick which was back to good old profit and loss analysis.
When the guys that just helped launch the most exciting new opportunity beat their own dog down in front of all the other dog owners, it isn't good for anybody in the kennel.
The result is too much supply, too many players and a serious rightsizing is about to come. I expect about 95% of the potpreneurs to succumb to red ink syndrom because Constellation took away the punch bowl.
It caught on and it is fugly for all the players with the exception of a couple that developed bona fide pharmaceuticals and huge revenues that come with successful new drug treatments that pass government scrutiny.
Canopy has had to get very inventive and creative to deliver on their intentions to regain leadership in a falling market with new, far out there, unproven, dependant on government changing the rules at the Federal level which lawmakers have been batting about like the tortured mouse that the cat bought home. Canopy's success is dependant on it being strong enough to survive it's own assault and conjoin Canopy and Acreage together to fast launch on US soil.
They have done everything right to scare investors and shake out the weak hands with reverse stock splits aka consolidations where they quietly reduce the shares in your posession while the shareprice is soon to follow.
Take note that Canopy is still actively investing to take control of brands that it believes will be hugely profitable when the rightsizing of players takes place.
What Constellation proposes is hardcore, untested and they have to get a Kennedy type that is willing to take the bullet to wrestle the pot industry from the Cartel players and their life and death stakes.
Trump is bellowing about fixing the SEC and it needs work. A lot of work! The fines that they levy on banks and companies that colour outside the lines haven't changed a thing. It is just a cost of doing business and I suspect that the SEC bonuses are probably commensurate with those fines from supposedly bona fide and reputable financial institutions, brokers and them that get caught financial wizards that aren't really.
The US has banks and brokerages going broke all the time but there hasn't been any stopping their illegal behavior but the fines are not enough to stop the behavior and curtail the sheisters out of the business.
Jail, firing squads (Trump might go for that) or long hard sentences go farther than fines and suspensions from their trade.
I have adopted new techniques of not buying any investment that I don't understand but still holding the bag on several pot stocks that all started their suspensions, halts or delistings by not filing reports, which is up to the SEC to follow up on and deliver a solution. Like any other bankrupt business, which they are, at least in my portfolio, SEC needs to put a non-related arbitrator in charge of administering to the success for shareholders or giving the knife the final twist so shareholders that are caught in this situation know that there might be something left for paid up shareholders and keep the residuals out of the reach of the unscrupulous.
Go for it Trump and drain the swamp. Level the playing field for small investors by simplifying and fixing all of the ways that brokerage and bankster sheisters are convering legit shareholder value in to their pockets.
I personally doubt that you are the man for that job because your success is highly questionable in regards to your own success and ambitions.
I don't know how Canopy went from leader to loser under new management and yet management is still looking for control by owning the brands and paying to do that.
It is easy to wipe out operating capital owned by shareholders by management long-shotting investments of just overpaying for them but keep in mind that it is the lenders and priority shareholders that get the assets, not the regular shareholders that become bagholders while our money is being run away with.
I vote yes for capital punishment for the Madoff types that think they are untouchable. I'm sure there's others that feel the same way.
Gotta go and clean and sight in my gun.