Canopy Growth co-founder Linton buys more stock after cannabis company fired him

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Bruce Linton says he bought more stock in Canopy Growth — even though the cannabis company he co-founded fired him earlier this summer.

"It was a right time for them to make the change, and it was the right time to buy the stock," Linton said Tuesday in an interview with CNBC's

"Because when I look at it, I go, I was one person. If I was that important to the company, then the company's not that key.Canopy, the world's largest publicly traded cannabis company by market value, announced in July that Linton was removed as co-chief executive officer and a member of the board. Linton called into CNBC later that morning and said he was fired.

"There's this big headline number, but when I look at stocks and look at quarterly announcements, I really don't care about the non-cash affecting things ... I just look at the actual losses and where they spent their money. It wasn't that big and what they spent it on was intellectual property and growth," he said.

Linton said he will announce his next move in September, when he'll share which "three or four" companies he will work with. "My advice I've been giving to a lot of people is you should get terminated as soon as you can because you become immediately very popular, at least if you've built a company whose market cap got to $20 billion in six years," he said.

 

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