RE:RE:Anyone have an idea whyYes, in total agreement with this as a stock split is the type of Corporate decision that would require the approval of the board. Since Constellation now holds 4 out of the 7 board seats, I believe the decision is really no longer in the hands of Bruce who was thinking of the share price relative to other competing seemingly cheaper Canadian weed companies.
Since Constellation is itself an over $200 a share company, I don't believe they have any problem with Canopy's share price sitting at $50 to $70, especially when most successful American companies trades at triple digits share prices with no problems at all. Now, if you want to trade against other smaller players on backwater trading exchanges, you would definitely go for the stock split.
On the other hand, if the upcoming financials are going to look bad like the last one, they just might have to pull another rabbit out of the hat to make the shareholders focus on something else in order to help prop the share price back up. And at that point, old Mick will be able to come on here and call Canopy a big fat over bloated pig for having a billion shares outstanding. LOL
Walkingzombie1 wrote: The reason maybe: The split idea was conceived sometime ago when Canopy was controlled by Bruce and the Canadian Board and the 2:1 or 3:1 split was tabled and approved by the shareholders. The $40+ might seem high in TSX. But since then, Canopy's Board has changed and is dominated by Americans under CB. The Board may not feel the same towards the split when $40+ share price in the US is nothing. Of course I'm just speculating. JMO GLTA
Belltech1275 wrote: They did a vote for a split months ago when it's not even happening.