Acutus Medical (NASDAQ:AFIB) stock is falling hard on Monday as investors prepare for the arrhythmias tool development company’s delisting later this week.
AFIB stock is being delisted due to its inability to reach the minimum bid price of $1 per share on the Nasdaq Exchange. In addition, the company has failed to maintain a stockholder equity of at least $2.5 million, which is another cause for delisting.
Investors will note that Acutus Medical has no avenue to avoid this delisting. The company has already used up both of its 180-day extensions in an effort to regain compliance. As a result, its shares will stock trading on the Nasdaq Exchange starting on Thursday.
What’s Next for AFIB Stock?
Acutus Medical has no intention of appealing the Nasdaq’s decision and accepts the delisting. The company expects its shares to start trading on the OTC Pink Sheets once it is delisted from the Nasdaq. It also intends to create new trading opportunities but says there’s no guarantee this will happen.
AFIB stock is down 40.6% as of Monday morning. That builds on a 31.1% drop year-to-date when markets last closed. It’s also worth noting that some 439,000 shares have traded so far today, as compared to a daily average of about 1 million shares.
Investors will find all of the latest stock market stories worth reading about today!
We have all of that news available for traders on Monday! That includes everything happening with shares of GlycoMimetics (NASDAQ:GLYC) stock, Perficient (NASDAQ:PRFT) stock and Strong Global Entertainment (NYSEMKT:SGE) stock today. All of that info is available at the links below!
More Stock Market News for Monday
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- Why Is Strong Global Entertainment (SGE) Stock Up 58% 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.
