Canopy Growth Corporation (CGC) News

It just did it again. Shib rose and CGC just fell right before the opening bell

Seems to be some correlation with the price of Shiba Inu and Bitcoin. When crypto is on the way up this is on the way down. Been doing that for a while now. Seems like the money is being arbitrated between the two

Canadian cannabis insolvencies persist in 2023 amid industry woes

Oh I am correct

Financially distressed cannabis companies continued to seek refuge in Canadian insolvency law in 2023, although such insolvency filings under one statute declined from 2022.

This year’s cannabis insolvencies included big names such as retailer Fire & Flower and producer Aleafia Health, highlighting the industrywide struggle to keep operating in the face of low marijuana prices, high taxes and trouble accessing new funding.

In the cannabis sector, a number of CCAA cases have featured a debtor-in-possession loan from a would-be buyer, who puts in a stalking-horse bid to buy the insolvent company or some of its assets.

Notable Canadian cannabis CCAA filings in 2023 included:

Major retail chain Fire & Flower Holdings, which was acquired through insolvency proceedings by privately held retailer Fika Cannabis.
Producer Aleafia Health, which is in the process of being purchased by U.S. multistate cannabis company Red White & Bloom Brands.
Phoena Group, risen from the ashes of predecessor company CannTrust, which faced a major scandal involving growing plants in unlicensed areas of its facility.
Other CCAA filings involving marijuana companies and cannabis-related entities this past year included:

Chalice Brands, a Canadian company with cannabis assets in Oregon.
Investment company Plant-Based Investment Corp., previously known as Cannabis Growth Opportunity Corp.
Capcium, which created softgel capsules for the cannabis industry and other sectors.
Beverage company BioSteel Sports Nutrition, owned by cannabis company Canopy Growth Corp.

https://mjbizdaily.com/canadian-cannabis-insolvencies-persist-in-2023/

Next year easely 💯

Really? I even bought more shares , sorry but you are totally wrong about canopy:))))

So funny, some people (investors) have no idea about cannabis in any way, If you don’t get out of canopy,…you will lose your pants
I dont need too buy anything from your investment money, chronic consumers cant afford too buy over priced, third party markups and taxes on top, this is why the stockmarket weed corporations are bankrupt and in credit protection, they are behind millions in tax debt, isn't that the main reason for government legalization ?

So funny, some people have no idea about stockmarket. If you don’t like canopy, leave…

I've never been more pissed off about a stock dropping before in all of my 10 years trading now. Couldn't set a stop loss due to being out of day trades. Got wrecked for 30% and I don't see this coming up for a long time. Only went in big due to moon market running his mouth 2 nights ago. If I didn't happen to have that POS come up in my feed I would have only been in for 30 shares. Never pumped a stock harder before in his life just to watch it tank 40% in 2 days. It's now time for pot companies to produce a profit. It's pretty obvious they have been hiding behind the DEA rescheduling for a long time. It's like a curtain that unveils the fact that these companies are worth more closed down than they are open for business. Nowhere to hide now. Show me the $$$$

I guess , a financial report takes place at the end of May ... if this time report is bad , CGC will turn into penny stock ...

Why is this stock at $10?? Seems anything over .10 is way overvalued here. Company is a complete joke and it's financials are completely abysmal.

Now tanked even more. Is this a pink sheet penny stock? Sure trades like one.

This stock tanked 40% in two days. Pump and dump by the feds to enrich themselves

What an ignorant post

my long stock positions on Weed (CGC) and Tilray, and related Put options made my portfolio jump 26,000 dollars yesterday when Weed went up to 15 dollars per share, and Tilray climbed too....I am all over Weed having sold PUT options when the stock fell to about 2.65 from 5 dollars on the 1/10 Reverse split a few months ago...it seems that Weed, and Tilray have achieved "meme" status after the shorters had a field day for years now...shorts will pay bigtime to cover as Jim Chanos made millions as a short seller... he recently gave up and liquidated his short hedge fund because he said "the game has changed on wall street"... meaning that contrary investors buy heavily shorted stocks and trap these mofos that game the markets.... dont get caught shorting Coop, as the float is very small, and most of Coop stock is held by "strong hands".... Lodas

Looks like pot stocks may be done. This hit today will knock the wind out of people's sails. Just more theatrics and nothing really to show for it. More fake legalization bills bring introduced blah blah blah. No banking bill and no legalization. Basically back to square 1

News: Senators File Bill To Federally Legalize Marijuana

Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ) and a coalition of other Democratic senators have officially reintroduced a bill to federally legalize marijuana.

One day after the Justice Department announced that it is moving to reschedule cannabis in a historic policy shift, the senators held a press conference on Wednesday to unveil the Cannabis Administration and Opportunity Act (CAOA).

The senators’ move to file the broad legalization measure also comes as industry advocates continue to push to enact narrower legislation focused on cannabis business’s access to banking services.

https://www.marijuanamoment.net/watch-live-schumer-and-other-democratic-senators-file-bill-to-federally-legalize-marijuana/

78% up is awesome

wow whatta freakin close 20.45 and CGC $15.77

what tomorrow ? .. are we going to watch a big drop ? ... great chance ,

shorted months ago at $ 23( it was $2.3 ) .... generally I am big time ... winner

GOOD JOB !!!!!!! hopefully you're on skid row now ! LoL !

Split adjusted chart for CGC
Been down so long it look like to me

Canopy traded over $1 billion today

Not really

CGC trading 2020 Gamestop style

8K is Out and all pot stocks gettin high!!!
https://www.otcmarkets.com/filing/html?id=17491316&guid=f5Q-k6RJAZ_6Jth

How are you making out?

Look at all the reefer tickers in the Barchart Top 100

Holy Moly 30% up :)

I am in ! .... shorting at $2.3 ( automatically $23 now ) on Sept. 12/24 ....

I have made good profit in the past couple of weeks and I will make more in the next coming weeks

Why you don’t stay away:))) 24/7 to write bs about this stock:))))

this stock is a scam ... stay away if you do not know how to play a tricky game ....

Market Capitalization = $1,081M ....joke of the week

at this time this stock is good only for smart players , they make a lot of money ... when naive people are going to lose a shirt ...

Nice pump and Dump. What's that like 30 times in the past month?

You are always a great source of information awesome. This has been an interesting time for sure

Funny :))))

huge scam .... be careful to sell , a day with dramatic drop is coming ...

You don’t have to buy it, let other people buy to make huge profit.

this stock is a scam ...

yesterday I went to weed store called Spiritleaf ( Ottawa ) and asked how popular are the products of CGC ... the answer was ... CGC products are not in demand ....

only smart players know that a black day is coming to CGC very soon .... and the price will drop in a dramatic fashion ...

Constellation Brands converts shares in cannabis operator Canopy, departs board
Weed investment money no longer yours

Beverage alcohol company Constellation Brands has converted its shares in Canadian cannabis company Canopy Growth Corp. into new exchangeable shares.

Constellation’s exchangeable shares may be converted back into Canopy common shares on a one-to-one basis, the companies announced Friday.

However, the two Constellation subsidiaries that now own the exchangeable shares don’t plan to convert them “until such time as the U.S. domestic sale of marijuana could not reasonably be expected to violate the Controlled Substances Act, the Civil Asset Forfeiture Reform Act (as it relates to violation of the Controlled Substances Act), and all related applicable anti-money laundering laws,” Constellation said in a news release.

The three remaining Constellation nominees to Canopy’s board have all resigned as part of the deal, and Constellation “no longer holds any governance rights in relation to Canopy Growth,” Canopy noted in its release.

Promissory note forgiven
Constellation subsidiary Greenstar Canada Investment Limited Partnership has also canceled and forgiven a promissory note to Canopy with principal worth 100 million Canadian dollars ($72.8 million), converting CA$81.2 million of the principal into shares and forgiving the remaining principal and interest.

Smiths Falls, Ontario-based Canopy said it now has CA$100 million less debt on its balance sheet.

“While we remain supportive of Canopy’s strategy, this transaction is expected to eliminate the impact to our equity in earnings and is aligned to our intent to not deploy additional investment in Canopy,” Constellation President and CEO Bill Newlands said in a statement.

Constellation’s move comes days after Canopy shareholders approved the creation of the exchangeable shares as part of a plan to create the company’s U.S.-domiciled holding company Canopy USA, which is meant to acquire Canopy’s existing U.S. cannabis assets.

“We look forward to maintaining an enduring positive relationship with (Constellation) as our largest shareholder, and to the further advancement of the Canopy USA strategy that this change enables as Canopy USA moves forward with the acquisitions of Wana, Jetty and Acreage,” Canopy CEO David Klein, a former Constellation executive, said in a statement.

Constellation-Canopy history
Constellation originally invested in Canopy in 2017, taking a 9.9% stake.

The Victor, New York-based alcohol company poured an unprecedented CA$5 billion into Canopy in 2018, acquiring more shares in a deal in which Constellation received board seats and warrants that could have boosted its stake in Canopy to more than 50%.

Constellation exercised some of those warrants in 2020.

By 2022, however, Constellation said it did not plan to invest any more capital in the Canadian cannabis operator.

Constellation allowed its warrants to purchase additional Canopy shares to expire last November.

Canopy’s latest quarterly net loss was CA$216.7 million, with net revenue of CA$78.5 million.

Shares of Canopy trade on the Nasdaq as CGC and on the Toronto Stock Exchange as WEED.

Constellation trades as STZ on the New York Stock Exchange.

https://mjbizdaily.com/constellation-brands-converts-shares-in-cannabis-operator-canopy-departs-board/

scam ... it is time for officials to investigate .... a lot of people lose money , some involved - make

I took profit. It's now tanking like I said it would. It's all talk. Show me the $$$$$

now , this stock is a scam ...

I took my 20% profit. That's enough for me today. Actions speak louder than words.

do we see the price of $7 by the end of the week ? ... great chance , do you know what to do ?

Just realized ACB is almost the same price as this now. Wow.