Canopy Growth Stock Is Higher: What's Going On?
Portfolio Pulse from Erica Kollmann
Canopy Growth Corporation (NASDAQ:CGC) shares are trading higher as the company is working to regain compliance with NASDAQ minimum bid price requirements. The company has received a non-compliance notice from NASDAQ for its closing bid price remaining below $1 per share for 30 consecutive business days. Canopy is considering a reverse stock split and will seek approval from shareholders at its annual meeting on Sept. 25.
July 19, 2023 | 3:25 pm
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Canopy Growth Corporation is working to regain NASDAQ compliance by considering a reverse stock split. This has led to an increase in the company's stock price.
The company's shares are trading higher as it is working to regain compliance with NASDAQ minimum bid price requirements. This news is directly related to the company's stock price and is likely to have a positive impact in the short term as it shows the company's proactive steps to address the non-compliance issue.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100