The 7 Cannabis Stocks That Didn't Make it to the 4/20 Celebration

An overview of industry consolidations and suspensions

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In honor of today being April 20, aka "weed day" and the unofficial cannabis holiday, we figured it was worth covering the cannabis stocks that have come and already gone despite the overall thriving sector. While Wall Street clearly believes there is major potential in marijuana stocks, there are 7 names that have been delisted. While most delisting occurred as part of major acquisitions, there are a few who disappeared from the exchanges due to suspensions or failure to thrive.

In addition to the seven pot stocks that have already been delisted, there are also a handful of cannabis stocks that are on the brink of delisting. The Nasdaq, home to most marijuana stocks, requires issuers to maintain a minimum bid price of at least $1 per share. Three major pot companies are currently on notice by Nasdaq: Sundial Growers, Hexo Corp, and Neptune Wellness Solutions.

Shares of Sundial Growers (NASDAQ:SNDL) stock has dropped more than 90% since its IPO in 2019. With SNDL stock priced under $1 for nearly one year, Sundial Growers stock currently runs a risk of being delisted by Nasdaq per its notice received in summer of 2021. Another company that received notice in summer of 2021 was Neptune Wellness Solutions (NASDAQ:NEPT) who was explicitly warned that NEPT shares weren’t meeting the Nasdaq exchange’s listing standards. Both SNDL and NEPT have been granted extensions to become compliant that expire in August 2022.

More recently, Hexo Corp. (NASDAQ:HEXO) received a compliance warning from Nasdaq at the end of January due to trading below $1 for 30 straight trading days. Sector peer, Tilray Brands (TLRY) has partnered with HEXO to try to stave off its delisting

The following cannabis companies used to be listed on NYSE or Nasdaq and are now delisted:

Aphria Inc (APHA)… *DELISTED*

On May 3, 2021, Tilray Brands (NASDAQ:TLRY) completed its acquisition of Aphria to create a “new” Tilray. Aphria, based in Ontario, produces and distributes cannabis products for both medicinal and recreational use domestically and internationally. Prior to the Tilray acquisition, Aphria was one of the largest cannabis companies worldwide.

Arena Pharmaceuticals (ARNA) … *DELISTED*

On March 11, 2022, Pfizer Inc. (NYSE:PFE) completed its acquisition of Arena Pharmaceuticals. ARNA is a major player in the biopharmaceutical development of potential therapies for immuno-inflammatory diseases and has many cannabis-based treatments in the pipeline for these diseases. This is the first time that Pfizer dipped its toes into the marijuana-derived medicinal drug market.

CannTrust Holdings Inc. (CTST) … *DELISTED*

According to a public notice filed by The New York Stock Exchange, the U.S. Securities and Exchange Commission was notified that CannTrust Holdings would be delisted on April 27, 2020. The delisting was done in accordance with the NYSE's conclusion that CannTrust “is no longer suitable for listing" after CannTrust obtained a creditor protection order in the month prior. CannTrust is a Canadian-based provider of marijuana products.

GW Pharmaceuticals PLC (GWPH)… *DELISTED*

On May 5, 2021, Jazz Pharmaceuticals (NASDAQ:JAZZ) completed its acquisition of GW Pharmaceuticals. GWPH is a U.K.-based pharmaceutical company most well-known for its development of nabiximols, a cannabis derivative, that was approved to treat epilepsy by the U.S. Food and Drug Administration (FDA).


On April 21, 2021, Tyler Technologics, Inc. (NYSE:TYL) completed its acquisition of NIC Inc. EGOV is a digital governing solution provider and cannabis compliance company. Prior to its acquisition, NIC Inc. served more than 7,000 federal, state, and local governments within the United States.

Pyxus International Inc (PYX)… *DELISTED*

On February 9, 2022, Pyxus International announced the completion of its strategic decision to exit its cash-flow-negative cannabis-centric operations. According to PYX, “Since announcing our intention to focus on tobacco and e-liquids last year, we have made tremendous strides in streamlining our operations and reducing our SG&A costs. Moving forward, we will continue to focus on our tobacco-related businesses while leveraging the Company's strengths in agronomy, traceability and sustainability in order to deliver value to our stakeholders."

Therapix Biosciences Ltd (TRPX)… *DELISTED*

On September 21, 2020, the Nasdaqa Stock Market announced the delisting of Therapix Biossciences after a suspension that began on July 2, 2020. Therapix Biosciences last traded in July of 2020. TRPX is a pharmaceutical company focused on cannabinoid treatments.


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