HomeLoansHow Canopy Growth, the star of Canada’s cannabis dreams, fell from grace

How Canopy Growth, the star of Canada’s cannabis dreams, fell from grace

Bruce Linton in a Canopy Growth facility in Smiths Falls, Ont., on Sept 21, 2018.Fred Lum/The Globe and Mail

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…

Read more at www.theglobeandmail.com

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