RE:NASDAQJimmy713 wrote: HEXO to Begin Trading on the Nasdaq
OTTAWA, Aug. 24, 2021 (GLOBE NEWSWIRE) -- HEXO Corp (“HEXO” or the “Company”) (TSX: HEXO; NASDAQ: HEXO) today announced that the previously announced transfer of its stock exchange listing to the Nasdaq Capital Market ("Nasdaq") from the New York Stock Exchange is complete.
The Company's common share will begin trading as a Nasdaq-listed security at market open today, August 24, 2021. Current retail and institutional investor shares will automatically be transferred over to Nasdaq. Current shareholders are not required to take any action.
Hexo needs a $4.00 share price to be on the small cap NASDAQ. On the business side, I think it will be a good move because Hexo will need cash. It will be an opportunity for another reverse split and Hexo will have a good reason to be on NASDAQ. Then I assume ther will be another PO to load some cash. Good move for the company but not for the investors. Unless Hexo has a stellar next quarter result, which will not happen, I see no other reason since being more expose on NASDAQ with Hexo disastrous last quarter result, would lead to more shorting.