Leafly Delisted from Nasdaq Stock Exchange

Key Takeaway

Cannabis information and e-commerce platform Leafly was delisted from the Nasdaq stock exchange after failing to meet minimum income and market capitalization requirements. The company transitioned to over-the-counter trading at a fraction of its 2022 public debut valuation, marking another major casualty in the broader cannabis public company downturn. Leafly had raised over $200 million as a public company before ad revenue declined and its strain-review business model struggled against direct-to-consumer dispensary platforms. For the cannabis industry, the delisting reinforced that purely ancillary cannabis businesses face major headwinds in public markets and that exits will likely happen via restructuring rather than growth rounds.