The Elixinol (ASX:EXL) share price remains in a trading halt today as the company plans a potential transaction. We take a closer look.
The post Why the Elixinol (ASX:EXL) share price has been halted today? appeared first on The Motley Fool Australia. –
Shares in the small-cap cannabis company have not been trading since the start of today. Consequently, the Elixinol share price remains at 19.5 cents.
What happened to Elixinol
The Elixinol share price will be one to watch in the coming days as its shares begin trading again. According to the release, the trading halt will remain in place until the announcement. Alternatively, when trading commences on March 8. Whatever is earlier.
The potential transaction is yet to be announced. Elixinol has stated that it wasn’t aware of any reason why the halt should not be granted.
Full year results
Notably, the company recently released its full-year results on February 26. Its shares have since nosedived, shedding around 9%.
While much of the past 12 months has been challenging for traditional retailers, we made great strides forward in our pursuit of sustainable growth and improved capital efficiency. Our strategy to reduce our cost base and shift the business towards higher margin channels, while bringing new products to market and entering new categories, is starting to show success via an improving bottom-line.
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Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.