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JOANN Inc (NASDAQ:JOAN) shares are trading lower by 21.7% to $0.08 during Wednesday’s session on continued volatility after the Nasdaq last week determined that the company is no longer suitable for listing and its stock will be suspended on March 28.

On March 20, JOANN received notification from Nasdaq that its common stock would be delisted due to the company’s voluntary filing for Chapter 11 bankruptcy on March 18.

Nasdaq cited rules indicating that the company was no longer suitable for listing. JOANN, Inc. has decided not to appeal this decision.

Trading of its common stock will cease on March 28, and the company’s stock will be removed from listing and registration on Nasdaq.

Why JOANN Stock Is Extremely Volatile Today