Nasdaq Notifies Canopy Growth of $1 Minimum Bid Deficiency; Compliance Clock Runs to April 12, 2027

Canopy Growth Corp. said Nasdaq has notified the cannabis company that its shares no longer meet the exchange’s $1 minimum bid requirement after closing below that level for 30 straight business days, starting a compliance clock that gives the company until April 12, 2027 to fix the issue.

The disclosure, made in a Form 8-K filed Friday, stems from a written notice Canopy said it received from Nasdaq’s Listing Qualifications Department on Oct. 14. The company said the notice “has no immediate effect on the listing or trading of the Common Shares on The Nasdaq Global Select Market,” meaning the shares continue to trade normally for now.

For shareholders, the notice is a continued-listing warning, not an immediate delisting. Nasdaq told Canopy it is out of compliance because “the closing bid price of the Company’s common shares … has been below $1.00 per share for the 30 consecutive business days prior to the date of the Letter,” according to the filing. To regain compliance during the initial 180-calendar-day period, Canopy’s closing bid price must be at least $1 for a minimum of 10 consecutive business days.

Canopy said it plans to monitor its closing bid price during the compliance period and may evaluate available options to resolve the deficiency. One of those options is a reverse stock split, which reduces the number of shares outstanding and can lift the per-share price. The 8-K said that if the company uses a reverse split to cure the problem, it must complete that step no later than 10 business days before the compliance period expires.

If Canopy does not regain compliance during the first 180 days, it may still qualify for another 180-day window. To get that extension, the company would need to transfer its listing to the Nasdaq Capital Market, meet that market’s applicable initial listing standards and notify Nasdaq that it intends to cure the deficiency. If Nasdaq later makes a delisting determination, Canopy would also have the right to appeal to a hearings panel.

The notice affects only Canopy’s Nasdaq listing. The company’s common shares also trade on the Toronto Stock Exchange, under the ticker WEED, and Canopy said the Nasdaq notice does not affect its compliance status there. On Nasdaq, the shares trade under the ticker CGC.

The filing also puts fresh attention on a governance item already in front of shareholders. Canopy’s 2026 annual general and special meeting was convened and then adjourned on Sept. 25 because of a lack of quorum, and it is scheduled to reconvene on Oct. 23. In a proxy statement filed Aug. 7, Canopy asked shareholders to approve a share consolidation, or reverse split, that would let the board choose a ratio “within a range of one post-consolidation share for every five to fifteen outstanding pre-consolidation shares.” The company said in that proxy that such a move could help it maintain compliance with Nasdaq’s minimum bid rule.