Etao International (NASDAQ:ETAO) stock is falling hard on Tuesday after getting a delisting update from the Nasdaq.
That update notes that the Nasdaq has decided to delist the company’s shares at the start of business on Friday, Dec. 22. However, Etao International may delay this delisting if it makes an appeal to the exchange.
Etao International intends to do just that and seek out a way to regain compliance with listing standards. That comes after the company failed to regain compliance in the 180 days and was deemed ineligible for another 180-day extension.
What This Means for ETAO Stock
Today’s news doesn’t mean that ETAO stock is being delisted just yet. However, it does show that the company is edging ever closer to being kicked off the Nasdaq. Depending on how the appeal goes, the delisting of Etao may happen sooner rather than later.
Considering that news, it makes sense that ETAO stock is falling 36.5% as of Tuesday morning. Investors will also note that the digital healthcare company’s shares are down 95.5% year-to-date (YTD) as of yesterday’s close.
This plays into the problems the company is having with remaining listed on the Nasdaq. ETAO hasn’t been able to get its price back up above the $1 minimum bid required for listing. It’s unclear how it will address this issue.
Investors looking for more of the latest stock market stories are in the right place!
We have all of the hottest stock market news worth reading about on Tuesday! That includes everything happening with shares of Motus GI (NASDAQ:MOTS) stock, LogicMark (NASDAQ:LGMK) stock and Infobird (NASDAQ:IFBD) stock today. You can find out more on these matters down below!
More Stock Market News for Tuesday
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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.
