If this is a short coveringremember the Tilray short squeeze that forced the shorts to cover at double when it came to a head.
Tilray shorts had to endure a $150 shareprice that shot up to $300.
That is a squeeze!
That would be justification for investors who bought in over $50 range.
Could be the beginning of a Reddit/Gamestop event and a step towards justice for serious investors that got caught up in investment removal tactics by less than scrupulous players that incorporate short sales that I believe should be outlawed.
This kind of behavior by bankers and brokers isn't going un-noticed by investors who should be lobbying their political representatives to stop this before investors just walk away from investing at all because of the stacked deck they are investing against.
There is too much money to be made by privileged individuals that will never let it go but have to be forced out to save this very important investment tool for small business. Securites needs to be given some teeth to really go after the insiders and marketmakers. We also need regulators to put in some wording such that our shares can't be shortsold without permission from the rightful shareholder and naked shorts should be outlawed altogether.
Hopefully Canopy's efforts are being recognized by investors and that our regulators get it right to write some legislaiton that encourages legal investment in legal businesses. Too much tax and too many regulations and administration costs not being dealt with quickly and fairly could chase the legal players right back the black side where most of the players seem very happy, at least according to the Nat Geo documentaries.
This uptick in price and volume of Canopy and some of the other serious cannabinoid companies will bring in some profit takers but the future is bright that we might get some new regulations that work in favour of the legal end of the trade.
Irrational exuberance could happen again for the pot industry as the US reconsiders its stance to helping to build the best cannabinoid business it can.
Should be 10x the greenrush that Canada experienced by population alone.