ACRGF - Canopy Growth: Negative Ramifications Of CEO Firing
The exit of the founding CEO without the full-time CEO hired is never a great outcome for the stock of any company. The scenario is even worse for Canopy Growth (CGC) where the move suggests dysfunction in the executive leadership and clashes with largest shareholder Constellation Brands (STZ). The end result is a stock not worthy of a premium valuation and reconfirms my negative investment thesis that things aren't going well at Canopy Growth.
Image Source: Constellation Brands website
Dysfunction At The Top
Last August, Constellation Brands bought 38% of Canopy