LianBio (NASDAQ:LIAN) stock is moving on Friday and this is likely tied to the company’s voluntary delisting of its shares from the Nasdaq Exchange.
LianBio announced late last month plans to voluntarily delist shares of LIAN stock. This is the result of the company currently undergoing efforts to wind down its operations.
However, this doesn’t mean that LIAN stock is completely disappearing. Instead, the company notes it expects its shares to trade in private transactions as well as on the OTC Markets Group exchange following the delisting.
It’s also worth mentioning that we’re a few days past the date that LianBio expected its shares to be delisted. The company was originally expecting this to take place on Monday. It’s unclear why the stock is still listed on the Nasdaq or if today’s drop is connected to this.
LIAN Stock Movement Today
heavy trading this morning has more than 18 million shares of LIAN stock changing hands as of this writing. That’s a massive surge in activity compared to the company’s daily average trading volume of about 540,000 shares.
LIAN stock was down as much as 90% during pre-market trading but is up 35.8% as of Friday morning.
Investors seeking out more of the most recent stock market news are in luck!
We have all of the hottest stock market stories ready to go on Friday! A few examples include why shares of Jet AI (NASDAQ:JTAI) and Zeo Energy (NASDAQ:ZEO) stock are up, as well as the biggest pre-market stock movers today. All of that is available 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.
