News of Surna Exec’s Departure Triggers Stock Slide

Shares of Surna Inc. have dipped since the company announced that its high-profile CEO Tom Bollich will step down, continuing a longer stock slide that began a year ago.

The cannabis cultivation technology firm said last week that Bollich will depart April 14 as the company moves from a startup to a more mature operation.

Bollich co-founded the online gaming company Zynga, which created the hugely popular FarmVille series, before eventually joining Surna in March 2014.

His arrival helped send Surna’s stock soaring from around $2 to more than $7 in a matter of days, as investors welcomed the news of a mainstream, proven business veteran leading the company.

Since then, however, Surna’s shares have fallen below $1, hitting about 25 cents last month. The company’s stock has fallen to 16 cents in the past few days after the announcement.

Surna’s current Chief Operating Officer Bryon Jorgenson will take on the role of CEO.