Leafly faces delisting from Nasdaq due to failing to meet $500k net income; transitioning to OTC market.
Seattle-based Leafly Holdings, Inc. (NASDAQ: LFLY), a prominent online cannabis platform, disclosed that the Nasdaq Hearings Panel has opted to delist the company's common stock from Nasdaq. This decision comes as a result of Leafly's inability to meet the minimum requirement of $500,000 in net income from ongoing operations in the latest fiscal year. The delisting process is now underway, and Leafly will no longer be traded on Nasdaq due to this non-compliance issue.
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