Nasdaq moves to delist California hemp firm

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.