Shares of CRXT stock will no longer trade on the Nasdaq Exchange on Aug. 31, which is this Wednesday. This is due to the company being unable to comply with the listing requirements of the exchange.
Specifically, Clarus Therapeutics couldn’t maintain the $15 million minimum market value of publicly held shares needed to trade on the Nasdaq. It also didn’t meet the $50 million minimum market value of listed securities required to keep trading on the exchange.
Clarus Therapeutics was first notified of these issues on Feb. 18, 2022. The company was given time to regain compliance but failed to do so. This resulted in another notice from the Nasdaq on Aug. 22, 2022, that it will be delisted come Wednesday.
CRXT Stock Won’t Disappear
Clarus Therapeutics notes that once shares of CRXT stock are delisted from the Nasdaq, they will move to the OTC Markets. This will have the company’s stock trading on the OTC Pink Market tier.
Heavy trading of CRXT stock follows today’s delisting news. This has some 13 million shares on the move as of this writing. That’s a massive spike in trading volume compared to its daily average of about 3.1 million shares.
CRXT stock is down 28.9% in pre-market trading on Monday morning. Those shares are also down 91.4% year-to-date.
There’s more hot stock market news for traders to dive into below!
We’ve got all the biggest stock stories traders need to know about for Monday! Among them are short squeeze stocks to watch, Mind Medicine (NASDAQ:MNMD) stock falling after a reverse stock split, and more. You can read all of the latest stock market news at the following links!
More Monday Stock Market News
- FAZE, PETZ: The Top 5 Short Squeeze Stocks to Watch This Week
- MindMed (MNMD) Stock Falls After Reverse Stock Split
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.