RE:RE:RE:34 cents away and canopy gets delisted off nasdaq It's a legit concern given where we are.
The only good news, and I use the term good lightly is that if it does fall below $1.00 then it has to stay there for 30 days. Then the notifcation from Nasdaq will come, and it will have 6 months to gain compliance. If it can close above $1.00 for 10 consecutive days, the delisting notifcation goes away.
So first it has to drop below $1.00, then stay there for 30 days
Then we have 6 months. Even after the 6 months, it can be extended for another 6 months.
So let's say "7 months"
in 7 months, im positive we will get news on Safe banking which will be a catalyst for the sector. It's been 6 years plus in the making with Safe. If it passes the senate, that will be huge. Rumour is that it will have a hearing the first week of May and intro in June..
Also, Becerra is as pro cannabis as you want. And we should have his recommendation to put cannabis to schedule 3 within the same 7 months. I say should because in May it will be 7 months since he started the review, and it's expected at least by October 6th marking 1 year.
if he does say to go to 3, that effectively "legalizes" cannabis, and will start the ball rolling in other things like 280e
Also, any one of the above, most notable rescheduling will be enough for CGC to trigger the mso deals, then they can combine CUSA into CGC and the numbers will look a lot better. Maybe like 230million per quarter going forward with both us and can.
the fear I have is obviously reverse split announced in the 6 months, and the US debt ceiling debacle can be an huge collapse of the markets this June/July if a deal is not reached.
Even so, CGC still has less shares outstanding that Tilray, and Tilray will not double their revenue as soon as resheduling happens. That will literally happen overnight for CGC.
Becerra has to make the recommendation, then review and committee hearings will be like 3-6 months until enacted. So, here's to hoping he makes the recommendation soon.
But, I'm pretty sure we will get Safe Banking passed in the senate before August Recess. I say this, just because of the info I read, but of course I should be wrong.
sector is on the brink of some major catalysts in my opinion.