Canadian cannabis company Canopy Growth (NASDAQ: CGC) was up more than 39% Monday morning as of 11:30 a.m. ET. The stock jumped after the company announced several moves to improve its liquidity and pay down its debt. Canopy's shares are still down more than 76% to start the year.

Two factors goosed the stock upward on Monday. Part of the move was a reaction to Canopy's shares falling more than 11% on Friday and hitting its 52-week low of $0.384. Seeing the potential to get in on a bargain, investors bought up Canopy shares on Monday.

The other factor was that the company announced that it was implementing a business plan to improve profitability. The plan included paying down $188 million in debt, plus the company said it was selling off facilities to raise another $150 million.

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Source Fool.com