On its quest to dominate the global cannabis market, Canada’s Canopy Growth Corp. WEED-T deployed a very deliberate strategy: Entice investors with a grand vision – something co-founder Bruce Linton had in spades – then endure any turbulence en route. Short-term losses were irrelevant. The destination was all that mattered.
It was a winning formula for nearly a decade. Even when investors lost faith in many cannabis producers, and later, when the pandemic nearly decimated the industry, Canopy consistently found a way to float above the fray.
That has all changed, and quickly. In the past two months, Canopy has encountered something much more ferocious than turbulence and its once-faithful investors aren’t sticking around. For the first time, the company’s bottom is…