'Mining Equipment Manufacturer' AGM Group…Receives 'Delisting Notice' from Nasdaq
Summary
- AGM Group reported receiving a delisting pre-notification from Nasdaq.
- This is due to the judgment that AGM Group's stock violated Nasdaq's Low Priced Stocks Rule.
- AGM Group announced plans to file an appeal with the Hearing Panel, indicating the possibility of deferring the stock trading suspension.
Bitcoin mining equipment manufacturer AGM Group is facing the risk of being delisted from the Nasdaq.
According to industry sources on the 8th, AGM Group received a delisting determination notice from the Nasdaq Listing Qualifications Department on the 1st of this month. The delisting determination notice is a kind of 'pre-notification.'
Nasdaq's pre-notification to AGM Group is based on the judgment that it violated the 'Low Priced Stocks Rule.' According to Nasdaq's notice, AGM Group's stock closing price recorded below $0.1 for 10 consecutive trading days as of last month.
With this notification, AGM Group's stock will be suspended from trading on Nasdaq as soon as the market opens on the 10th. If AGM Group files an appeal with the Nasdaq Hearing Panel by today, the suspension of trading will be deferred. AGM Group stated, "We plan to promptly file an appeal with the Hearing Panel."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul![[Exclusive] FSS to examine ZKsync coin that surged '1,000%' in three hours](https://media.bloomingbit.io/PROD/news/1da9856b-df8a-4ffc-83b8-587621c4af9f.webp?w=250)
