Why Is Canopy (CNPY) Up 40.53% Today, September 18, 2026? Heavy Post-Listing Trading and Exchange Rewards Drive the Rally

CNPY surged 40.53% amid post-listing price discovery, with $65.06M 24h volume exceeding its ~$59.56M market cap (1.09x turnover). The move appears flow-driven rather than tied to new fundamentals, amplified by expanded venue access and incentive programs (fee waivers, wallet rewards, airdrop-related attention). High turnover signals elevated liquidity and speculative participation, keeping short-term stability sensitive to order-book depth and supply normalization.