Summary
- The U.S. Nasdaq exchange has announced it is discussing the potential delisting of Argo Blockchain.
- Argo Blockchain reported receiving a deficiency notice for failing to meet the minimum bid price requirement.
- The current share price is $0.31, making it difficult to meet the continued listing requirements.
It has been reported that the U.S. Nasdaq exchange is discussing the delisting of Argo Blockchain (ARBK), a Bitcoin (BTC) mining company headquartered in London.
According to The Block on the 30th (local time), Argo Blockchain received a letter stating that it did not meet the minimum bid price requirement needed to maintain its dual listing in January. Argo was granted a 180-day recovery period to maintain a $1 share price required for continued Nasdaq listing. However, after failing to raise its bid price for 30 consecutive days, it issued a deficiency notice on the 15th.
Argo Blockchain was trading at about $0.60 early this year, but the price gradually declined to around $0.18 by June. After rising to the $0.50 range in early July, it is currently trading at $0.31.
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