ThermoGenesis (NASDAQ:THMO) stock is taking a beating on Wednesday after the company announced an update on its listing compliance.
According to a ThermoGenesis filing, it has received another delisting notice from the Nasdaq Exchange. This is because it does not meet the $2.5 million in stockholders’ equity required to maintain its listing on the exchange.
As a result, the company has until tomorrow to submit a plan to regain compliance to the Nasdaq Hearings Panel. If it fails to do so, then shares of THMO stock will be delisted from the exchange when markets open on June 17, 2024.
What’s Next for THMO Stock?
ThermoGenesis says it’s still weighing options right now but that it currently doesn’t plan to appeal the Nasdaq Exchange’s delisting decision. As a result, its shares will likely move to an Over-the-Counter Market following their delisting from the Nasdaq.
Today’s delisting news brings with it heavy trading of THMO stock as investors sell the shares. This has more than 142,000 shares changing hands as of this writing. That’s already well above its daily average trading volume of about 64,000 shares.
THMO stock is down 36.5% as of Wednesday morning.
Investors who are seeking out even more of the most recent stock market stories today will want to keep reading!
We have all of the hottest stock market news traders need to know about on Wednesday. A few examples include what’s happening with shares of Golden Heaven (NASDAQ:GDHG) and Sify Technologies Limited – Rights (NASDAQ:SIFYR) stock, as well as the biggest pre-market stock movers this morning. All of that info is good to go at the links below!
More Wednesday Stock Market News
- Why Is Golden Heaven (GDHG) Stock Up 62% Today?
- Why Is Sify Technologies Limited – Rights (SIFYR) Stock Moving Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
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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.
