Canopy Growth is seeking shareholder approval for another reverse stock split, with a vote set for Sept. 25, as its shares trade below $1 and the company looks to retain access to capital markets. It carried out its previous reverse split in December 2023.
Canopy’s shares fell nearly 50% after the December 2023 split, before a brief rally in marijuana stocks; they are now roughly 80% below their pre-split level. The article notes that major exchanges often require companies to maintain a share price of at least $1, and that a listing can ease stock trading and access to capital.
In the first quarter of fiscal 2027, Canopy reported sales growth in all divisions and a 13% increase in its overall top line; its loss was 68% lower than in the same quarter a year earlier. The article cautions that a reverse split is not itself a positive development and does not guarantee a repeat rally.
