That notice comes from the Nasdaq’s Listing Qualifications department. The reason for the notice is the company failing to file its Form 10-Q for the quarter ended June 30, 2023.
Investors will note that Ideanomics only released a press release acknowledging the delisting notice. The company didn’t outline a plan for regaining compliance and said nothing about when it will file its late Form 10-Q.
Despite that, we do know that Ideanomics is working to get its filing ready. The company said as much in another filing that alerted investors to the fact it was running late on its Form 10-Q filing. However, it has actually missed the planned late filing date mentioned in that update.
What This Means for IDEX Stock
If Ideanomics continues to delay this filing, the company could see its shares delisted from the Nasdaq. It could also face delisting for other reasons. The company has been struggling to maintain a bid price above the Nasdaq’s minimum price requirement. If that continues to be a problem, shares could be delisted.
Today’s news is harming investor morale with IDEX stock down 3.9% as of Thursday morning. The company’s stock is also down 67.7% year-to-date ().
Investors keeping track of all the latest stock market news on Thursday will want to check below!
We’re offering up deep dives into all of the most recent stock market stories today! Among that is why shares of CVS Health (NYSE:CVS), Hawaiian Electric (NYSE:HE) and XPeng (NYSE:XPEV) stock are moving today. We’ve got all of that news ready to go with the following links!
More Stock Market News for Thursday
- CVS Stock Alert: Blue Shield of California Ditches CVS for Mark Cuban
- Why Is Hawaiian Electric (HE) Stock Down 17% Today?
- XPEV Stock Alert: Xpeng Heats Up on Stimulus Hopes
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
On the date of publication, William White did not hold (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.