The Globe and Mail reports in its Tuesday, Aug. 2, edition that fortunes have turned negative at Canopy Growth. The Globe's Tim Kiladze and Irene Galea write that Canopy said last week that any semblance of profit was still at least two years away. With Canopy bleeding cash, the company's debt load suddenly began to draw more attention. To alleviate the burden, Canopy announced in June that it would swap some bonds for shares -- but the fix only caused more damage. Handing out new stock diluted existing shareholders and as part of the swap, Canopy agreed to repay $345-million in cash next summer. Investors revolted. In June alone, Canopy's shares tumbled 42 per cent. Over the past year, they are down more than double that. Canopy's share price has collapsed from $67.74 on Sept. 7, 2018 to $3.39 as of Friday's market close. Bernstein economist Nadine Sarwat says, "It's a monumental fall from grace." Constellation Brands invested a total of $5.2-billion in Canopy when the outlook was bright. The value of that investment is now close to a goose egg -- so immaterial that Constellation is hardly ever asked about it. Six months after legalization investors may not have cared about profits, but eventually they did.