Nasdaq moves to delist California hemp firm
Industrial Hemp NewsInternational NewsMarijuana Laws, Regulations, & Politics October 5, 2020 MJ Shareholders 0
The Nasdaq stock exchange has moved to delist California hemp company Youngevity International for failing to file required reports and because its stock has fallen below $1, triggering removal from the exchange.
Youngevity grows and sells commercial coffee in addition to hemp. It also has a third division focused on omnichannel marketing. The company says its received the delisting notice last Tuesday.
The San Diego company has requested a Nasdaq hearing to challenge delisting, which delays the action until at least Oct. 21. Youngevity is asking for an extension on its report and says it will be trading above $1 by the end of a 180-day window to continue listing on the exchange.
The company will continue trading on the Nasdaq as YGYI until the exchange makes a determination on its requested stay.
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