Cannabis company OrganiGram gets de-listing warning from Nasdaq

Canadian cannabis company OrganiGram Holdings Inc.
OGI,
+0.23%

OGI,
+0.42%
said Thursday it received notification from the the Nasdaq that it is not in compliance with the minimum bid price requirement to retain its listing because its stock has traded below $1.00 for 30 consecutive trading days. The company now has until July 24 to regain its minimum bid requirement. If its bid price closes at or above $1.00 per share for a minimum of 10 consecutive business days, the company will regain compliance. If not, Organigram may be eligible for an additional period of 180 calendar days to regain compliance or may be subject to delisting. Organigram’s stock is also listed on the Toronto Stock Exchange. The Nasdaq notification does not affect the company’s compliance status. Shares of Organigram rose fractionally on Friday to 91 cents a share. The stock is up 14% in 2023 compared to a 10.5% rise by the Nasdaq
COMP,
+0.73%.