RE:QuestionCanopy in my opinion is a play for the "long from the beginning" investors. Many of the inital investors are sitting on extreme gains and very content to let this very long game play out.
Most retail investors with only small amounts of cash to invest are forced to go elsewhere. The two-three year wait for 50% gains are happening now in lower priced weed plays.
The huge deal with CB seems to have unfortunately stalled Canopy at this time. The deal which places 4 out of 7 directors on the board ensures CB interests are protected. All activity in the future will be for the mutual benefit of two companies and primarily for the benefit of CB. CB will not let another big player extract some of that control from them. So essentially, I expect future deals to be less than overwhelming. Martha Stewart ... case in point.
The low volume is an indication that retail investors have moved on. What wait a year or more for a 50% gain when is it happening right now in other plays within a few weeks. The "longs from the beginning" are fine with the slow and methodical progress for a good reason.