Cannabis Stock Market Failure (South Africa)

Labat Africa, the largest cannabis-focused company in South Africa, has been suspended from the Johannesburg Stock Exchange (JSE). The suspension, announced on October 24, 2023, was due to Labat’s failure to comply with JSE Listings Requirements by not publishing its financial statements. Labat’s shares were trading at 0.07 cents before the suspension. After its stock prices tanked by 70% last year, Labat has faced numerous challenges, including complicated financials, late financial statements, and warnings from the JSE.