On the morning of February 27, 2023, Greenbrook TMS (TSX: GTMS, Nasdaq: GBNH) announced that they are voluntarily delisting from the TSX, effective close of March 13, 2023.
In theory, not being listed on a stock exchange should have no theoretical difference in market value, but certainly on this thinly traded company (prior to this, it was lucky to see more than 10,000 shares a day of volume), it had quite the impact of people trying to stampede out the exits:
The stock went from CAD$2.50 to CAD$1.65 as I write this today, about a 1/3rd drop.
Ordinarily I would be salivating at the opportunity to take advantage of a forced liquidation that is clearly going on here, but financially speaking the company’s contribution to the economy has been paying their massive lease bills and not making nearly enough gross profits to eclipse their fixed expenses.
Sacha, do you see any values in US banks given the latest headlines (looks overblown to me – a couple of specialized banks like Silvergate and SVB) caused massive carnage in the sector?