Why Is ThermoGenesis (THMO) Stock Down 37% Today?


  • ThermoGenesis (THMO) stock is down on Wednesday alongside a delisting notice.
  • The company’s shares are set to be delisted from the Nasdaq Exchange on June 17.
  • ThermoGenesis doesn’t intend to appeal this decision.
THMO Stock - Why Is ThermoGenesis (THMO) Stock Down 37% Today?

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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!

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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.

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