Hexo gets Nasdaq notice that it's not compliant with listing rules after stock traded below $1 for more than 30 days

Canadian cannabis company Hexo Corp. HEXO, +3.68% said Monday it has received notification from the Nasdaq exchange that it is not in compliance with minimum bid price requirements, after the stock traded below $1 for 30 straight trading days. Hexo shares closed Friday at 50 cents. The company now has 180 calendar days to regain compliance or face the risk of being delisted. The stock also trades on the Toronto Stock Exchange. Hexo is also currently searching for a new CFO, and is evaluating alternatives to improve shareholder value and reduce its debt. Shares fell 1.1% premarket and are down 92% in the last 12 months, while the Cannabis ETF THCX, +2.23% has fallen 59% and the S&P 500 SPX, +2.43% has gained 19%.