RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Most of these companies are uninvestible Yea, Acreage management sure did "fix over" their shareholders.
When Constellation arrived on the scene they piled in to a good chunk of Canopy which was the envy of the world of pot.
They put up some serious billions of dollars and quickly moved even more billions to put themselves in the driver's seat.
Canopy had already lined up Acreage for their American expansion plans and have continually explored brands and options and taken positions to put together an enviable portfolio of pot potential.
Constellation installed key people on the boards and punted Bruce Linton of Canopy out the door with pockets full of cash.
Acreage was a commonsense deal for rapid expansion of Canopy brands through a US MSO and showed great signs for success of the International plan. Acreage was already a deal pricewise as the least loved MSO but a good fit to conjoin the brands and help grow our US footprint.
Acreage needed a fixer and put in Caldini who rubbed shoulders with black ink but kept pulling away that promise.
Canopy jumped in to all of the brands and put heavy weight and financing behind cannabinoid infused beverages which is why I thought Constellation bought in in the first place.
Constellation also changed the rules of the game to more fundamental valuations based on dollars and sense with profits, not just irrational exuberance that Team Linton generated huge upticks in shareprice with.
All of those players that showed big interest in the beverages stepped back to have another look and Acreage seemed to actively debase the value of that company that is tantamount to a conversion of value from the retail shareholders and it all hinges on the deal of US Federal legalization or something similar to happen to trigger the success of conjoining these companies together to assume leadership of the potpreneurs.
Constellation's minions forced the price of Canopy and Acreage shares down to the dismal values that we are currently experiencing and they did it easily by overspending, shutting down divisions, closing and shuttering the bottling line to find black ink.
New and unfair business tactics like reverse splits that gut existing shareholders and set them up for the pain of their shares being worthless.
I believe this is by design and needs legal action to force securities to stop this unfair practice.
It has become too easy and is putting this source of fundraising in jeapordy of dissappearing when management abandons integrity and honour to win at all costs even if it looks like plain old stealing from rightfull shareholders.
Companies that operate like this should have administers take over the affairs of the company with proper management with the goal of retail shareholders reaping the spoils or whatever is of value to keep it from being a conversion of value to deep pockets.
The new guy has a real bad taste to overcome and we will see what his intentions are and how much damage he can do to the revenue stream.