Why Is Chicken Soup for the Soul (CSSE) Stock Down 22% Today?

  • Chicken Soup for the Soul (CSSE) stock is falling on a delisting warning.
  • That was due to its late annual filing and other issues.
  • The company has a meeting with the Nasdaq Exchange next month.
CSSE Stock - Why Is Chicken Soup for the Soul (CSSE) Stock Down 22% Today?

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Chicken Soup for the Soul (NASDAQ:CSSE) stock is falling on Thursday after the entertainment company received a delisting warning from the Nasdaq Exchange.

Chicken Soup for the Soul was sent a notice on April 18 about a potential delisting due to the late filing of its 2023 annual report. The company ended up filing that report just one day after the Nasdaq notice.

Chicken Soup for the Soul notes that it intends to meet with the Nasdaq Exchange to address the issue behind the delisting notice. It will also discuss other problems that are keeping it from being compliant with a listing on the exchange.

Chicken Soup for the Soul says that its meeting with the Hearings Panel is set for May 21, 2024. An issue that may come up is the company’s stock price. Shares of CSSE stock closed out trading yesterday at 43 cents per share. That’s below the $1 minimum required to maintain a Nasdaq listing.

What This Means for CSSE Stock

While CSSE shares aren’t in immediate danger of being delisted, investors aren’t happy about the notice. This has more than 4 million shares of the stock changing hands this morning. That’s already above its daily average trading volume of about 3.8 million shares.

Investors will also note that CSSE stock is coming off a massive rally yesterday. That saw its shares climb 179.3% higher with 215 million units traded.

CSSE stock is down 21.9% as of Thursday morning.

There are more stock market stories traders need to know about on Thursday.

We have all of that news ready to go with the latest happenings today! That includes everything going on with shares of Lithia Motors (NYSE:LAD) stock, GraniteShares 2x Long META Daily ETF (NASDAQ:FBL) stock and ReAlpha Tech (NASDAQ:AIRE) stock this morning. You can catch up on this news at the links below!

More Stock Market News for Thursday

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2024/04/why-is-chicken-soup-for-the-soul-csse-stock-down-22-today/.

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