RE:RE:Upticks on ReportsQuarterly numbers can make a substantial difference to investor sentiment as well as investor interest in the stock. A strong positive report vs previous or historical will drive investors to research and potentially invest in the company as well as motivate shareholders not to sell. This all translates to higher demand / less supply for shares therefore higher shareprices.
Regarding you concern over a reverse split. This is not something the company would do "just because". The shareprice is below $1 USD and maintaining that shareprice is a requirement of the NasDaq Exchange. The company can either motivate investor interest by producing strong reports or execute a reverse split in order to force the price up and bring the listing back into compliance.
I have seen no indication from the company in terms of timing however based on what I am seeing they have until Jan of 2024 to have the SP back over $1 USD for 10 straight days. If they do not comply by Jan of 2024 they can apply for an extension to bring the deadline out to July of 2024. If the extension is granted then they will have more time to release more reports therefore more time to boost sales and bring in more investors. Other Cannabis companies have successfully been granted extensions recently so I therefore suspect Canopy Growth would be granted the same option.
IMHO the QTR report potential is at play here however we may be seeing Cannabis Investing interest being spurred on by potential HHS re-scheduleing news (pending) as well as an update on Cannabis SAFER Banking Act vote update (pending).
There are many complexities to the market, all contribute to shareprice movements.
jmho
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