MarketWatch‘s Max Cherney wondered what will happen to Linton’s plans to give employees options and to keep Canopy headquarted in Smith’s Falls. He added, “Does Constellation have any idea how to run an early stage pot company? I mean Canopy can’t even sell edibles or vapes yet.”
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- Financial executive Norman Levine said, “Canopy will now be a Canadian company in name only. Decisions will be made by Constellation and they will name executives and eventually move the operating head office to the U.S. but leave Smiths Falls as the nominal head office.”
Twitter - Tributes to Linton were widespread from across the sector, but grower Travis Lane summed up the feelings many legacy growers share about Linton: “He helped build one of the first inevitable massive North American cannabis corps in a market vacuum [but] almost anyone could have done a better job of publicly representing cannabis. Drones, dispos, fentanyl contaminated weed, shit product, etc. He may have been great for shareholders, but I didn’t see him help otherwise.”
Twitter - During a Bloomberg interview about the firing, Linton wore a t-shirt advertising communications-networks company Martello Technologies, which he and Mitel-chairman Sir Terry Matthews took public on the TSX last fall, and of which he is co-chair. As a result, Martello’s stock spiked by 89%.
Ottawa Business Journal, Financial Post - Linton told Bloomberg he wants to make Martello “really crank.”
Bloomberg - Coming Monday in the WeedWeek newsletter, an exclusive interview with Kevin Murphy, CEO of Acreage Holdings, the U.S. company Canopy planned to acquire for US$3.4B when U.S. legal conditions allow.
Quick Hits
- Marketwatch charted the beating short sellers employing questionable methods delivered to LP Cannabis One, which has sunk 83% since April thanks in part to “naked” short selling, which is legal in Canada but not in the US.
- The Wildfire Collective, a collective of small-batch outdoor organic growers, soft-launched with a video on Canada Day.
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