View (NASDAQ:VIEW) stock is falling on Thursday as the technology company’s shares are going to be delisted on Friday.
This delisting comes after View withdrew its appeals with the Nasdaq Exchange to remain listed on it. The company was facing delisting over its failure to comply with the exchange’s equity requirement and minimum market value requirement.
After choosing to withdraw from the hearings for these issues, the company was sent a notice from the Nasdaq Exchange yesterday. This notes that shares of VIEW stock will be delisted from the Nasdaq at the opening of business tomorrow.
What’s Behind the VIEW Stock Delisting?
View didn’t decide to withdraw its appeals for no reason. The company did so after voluntarily filing for Chapter 11 bankruptcy. A bankruptcy filing would have triggered a delisting notification from the Nasdaq Exchange one way or another.
It’s also worth mentioning that View went into bankruptcy to facilitate a deal to take it private. This has it working alongside Cantor Fitzgerald, L.P. and RXR to exit the bankruptcy as a private company financed by them.
As investors might expect, this news has resulted in shares of VIEW stock falling recently. That includes a 53.6% drop yesterday and another 17.7% decrease on Thursday morning. That comes with some 226,000 shares traded, as compared to a daily average of 219,000 shares.
Investors looking for more of the most recent stock market stories are in luck!
We have all of the hottest market news worth reading about on Thursday! That includes what’s happening with shares of Casa Systems (NASDAQ:CASA) stock, Zhongchao (NASDAQ:ZCMD) stock and HWH International (NASDAQ:HWH) stock this morning. All of that news is available at the links below!
More Stock Market News for Thursday
- Why Is Casa Systems (CASA) Stock Down 24% Today?
- Why Is Zhongchao (ZCMD) Stock Up 40% Today?
- Why Is HWH International (HWH) Stock Up 55% Today?
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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.
