Sunday, August 20, 2023
North America

Selina Is in Danger of Stock Market Delisting

  • Market Movement:DJIA up 26, Nasdaq down 26, S&P 500 down 1, 10-year treasury yield down to 4.25%.
  • Selina Hospitality Woes:Selina Hospitality’s stock plunged 41%, facing financial struggles and a revised SEC prospectus. Other lodging stocks also hit new lows.
  • Hotel Industry Highlights: Airbnb’s price target raised to $110 by Morgan Stanley. American Hotel & Lodging Association praised new federal travel rates. Blackstone sold three hotels for $64.3 million. Various hotel developments and renovations announced. Hotel La Jolla undergoes $8M renovation. David Meisner rejoins White Lodging as Regional VP.

The DJIA rose 26 points, Nasdaq was down 26, the S&P 500 was down a point, and the 10-year treasury yield was down .06 to 4.25%. It sounds like a typical mid-August Friday in the stock market. Not so for lodging stocks, particularly Selina Hospitality which was read its last rites as it tried to avoid a reverse split to stay listed. SLNA plunged -41% […]