Why Is Altamira Therapeutics (CYTO) Stock Down 8% Today?


Editor’s Note: A prior version of this article stated that Altamira Therapeutics was not in compliance with Nasdaq Listing Rule 5550(b)(1). The article has been updated to reflect that the company is compliant with this rule.

  • Altamira Therapeutics (CYTO) stock is falling on Monday following a recent delisting update.
  • The company is in compliance with Nasdaq Listing Rule 5550(b)(1).
  • This has the company’s shares on the move today.
CYTO Stock - Why Is Altamira Therapeutics (CYTO) Stock Down 8% Today?

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Altamira Therapeutics (NASDAQ:CYTO) stock isn’t doing so hot on Monday after the company was given a listing compliance update last week.

That update comes from the Listing Qualifications Department of the Nasdaq Exchange. This is due to it now being compliant with Nasdaq Listing Rule 5550(b)(1). That rule has to do with the minimum shareholders’ equity requirement of $2.5 million.

Altamira Therapeutics was first sent a delisting notice over this matter in May 2023. The company was granted an extension to Nov. 21, 2023 to address the deficiency.

What’s Next for CYTO Stock?

Altamira Therapeutics will have to show it has overcome the compliance issue during its next periodic filing. If it fails to do so, the Nasdaq Exchange may choose to delist its shares.

It makes sense that CYTO stock would be down as investors react to news of a potential delisting. Holders of the company’s shares will want to keep an eye on it in the near future to learn its fate.

CYTO stock is down 8.1% as of Monday morning.

Investors seeking out even more of the most recent stock market stories will want to keep reading!

We have all of the biggest stock market stories worth reading about on Monday. That includes everything happening with shares of AgriForce Growing Systems (NASDAQ:AGRI) stock, Nyxoah (NASDAQ:NYXH) stock and Near Intelligence (NASDAQ:NIR) stock today. You can catch up on all of that news at the following links!

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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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/11/why-is-altamira-therapeutics-cyto-stock-down-8-today/.

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