Canopy Growth Corporation (NASDAQ:CGC) shares are trading higher on Wednesday. Canopy is working to regain compliance with NASDAQ minimum bid price requirements.
What To Know:
Canopy has received a non-compliance notice from NASDAQ regarding the CGC closing bid price remaining below $1 per share for 30 consecutive business days. The company is considering a reverse stock split in order to regain compliance and will seek approval from shareholders on the share consolidation plan at its annual meeting on Sept. 25.
CGC is moving up on high trading volume on Wednesday. According to Benzinga Pro, more than 22 million shares have been traded, compared to the stock's 100-day average of 19.7 million shares.
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CGC Price Action: According to data from Benzinga Pro, Canopy shares are trading 9.3% higher at 42 cents at the time of publication.
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