'I have no idea why people are selling it,' says CNBC's Jim Cramer, arguing the new CEO, who has yet to be named, will help lead the company in a new direction.
earlier Wednesday that he was "terminated" from the Canadian pot company that he founded six years ago. Shares of Canopy — up about 50% year-to-date — were dropping about 4% in early trading.
"I have no idea why people are selling it," Cramer said of the world's largest publicly traded cannabis company by market value. "That's crazy." Linton's ousting comes after November's $4 billion investment from spirits giant Constellation Brands, which gave Constellation about a 35% stake in the cannabis company. A condition of the deal was a board reconfiguration, Linton said.Canopy last month
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