Cannabis operator Canopy to be booted off S&P/TSX Composite Index
S&P Dow Jones has announced Canopy Growth will be removed from the S&P/TSX Composite Index, reports MJ Biz Daily.
It highlights that the S&P/TSX Composite Index requires a minimum float-adjusted market capitalization for securities to be included, but Canopy’s market capitalization has declined precipitously as its share price has declined.
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Canopy’s shares closed at CA$1.14 on Friday, meaning the company is now valued at less than CA$600 million.
The announcement follows the recent layoffs by the company along with a major facility closure in February. However, Canopy also made the recent announcement that it will be acquiring a 19.99% stake in edible company Indiva.
Minnesota governor says Indian tribes could start selling cannabis before regulators approve standard licenses
Marijuana Moment reports that Minnesota’s tribal…
