And it’s not that we simply said this company is bad, we provided sound rationale for it. Gross margin is the only indicator needed to understand if a company has the ability to make profits. Minus 13 gross margin is ridiculously bad and will lead to bankruptcy in very short order. It indicates a business is not sustainable in the long run, and hoping the company can turn things around is foolish because once embedded in the operations its nearly impossible to fix. Believe me, I witnessed it countless times when I was a commercial banker for a big 5 bank here in Canada.
The sector needs to heal. Only the strong will come out of this. Canopy will be one company that will be here 5 years from now. By 2024 if you had the foresight to accumulate you will be greatly rewarded. Until then expect volatility this is nothing new to the longs.
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