Canopy Growth Is Eyeing Another Reverse Stock Split. Will It Be Enough to Light a Fire Beneath the Beaten-Down Pot Stock?

Key Points On Sept. 25, Canopy Growth investors will be asked to vote on a reverse stock split. Currently trading below $1, the company could risk being delisted if a reverse split isn't enacted. 10 stocks we like better than Canopy Growth › Canopy Growth (NASDAQ: CGC) did a reverse stock split on Dec. 15, 2023. After that split, the stock fell by nearly 50% before there was a brief marijuana stock rally. Today, the shares are down by roughly 80% from their pre-reverse-split levels. And, notably, they are back below $1 per share. The company has to do something about this situation. Why $1 is such an important share price Major exchanges have rules that must be followed for a company to remain listed on the exchange.