Canopy Growth's CEO Is Leaving: Is That a Sign of Trouble for the Cannabis Stock?
When a company's leader leaves, investors often try to uncover the real reasons for the departure to determine whether there are problems with the business. Typically, a surprise departure isn't received as good news in the markets. Although in Canopy Growth's (NASDAQ: CGC) case, there hasn't been a sell-off since the company announced its chief executive officer would be retiring, at least not yet.
What could a change in CEO mean for the business? Would it make the cannabis stock a better buy, or would it be a red flag for investors?
On Aug. 16, Canopy Growth posted a press release announcing that its CEO, David Klein, would be retiring. He will continue until the end of the company's fiscal year in March, but a search is underway for a successor to take over next year.
Source Fool.com
