Aug 8, 04:28 PM

Nasdaq Proposes Rule Changes to Delist Penny Stocks Below $1 After Reverse Splits

Nasdaq is proposing new rule changes aimed at expediting the delisting process for companies with shares trading below $1, following criticism that the exchange hosts hundreds of risky penny stocks. The proposed amendments target companies that engage in excessive reverse stock splits and subsequently fall below the $1 threshold within a year. This move is part of Nasdaq's efforts to tighten its listing rules and address concerns about the proliferation of penny stocks on its platform. Bit Brother was delisted after three reverse stock splits. Virtu urged the SEC regarding these changes.

#Nasdaq #Bit Brother #Virtu #SEC

Written with ChatGPT (GPT-4o).

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David Merkel@AlephBlog
2 years ago
Nasdaq is taking steps to purge itself of companies whose shares trade below $1, following criticism the exchange has become home to hundreds of risky penny stocks https://t.co/9nyq9uZ0Od Would be better to delist companies where most of the cash flow comes from share issuance
Markets Insider@MktsInsider
2 years ago
Nasdaq is proposing a crackdown on penny stocks to make it harder to escape delisting https://t.co/NQPDnCoII3
The Daily Upside@TheDailyUpside
2 years ago
After months of criticism for listing over 400 penny stocks, Nasdaq is proposing tightened rules to crack down. Makes cents. https://t.co/TcSocCw9sD

Nasdaq Proposes Rule Changes to Delist Penny Stocks Below $1 After Reverse Splits

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