Bright Green Corporation has halted trading on the Nasdaq Stock Exchange following the cancellation of its delisting appeal hearing. Despite the setback, the company remains focused on its future, with plans for a reverse stock split to boost shareholder value and strategic initiatives including partnerships and acquisitions. The company’s commitment to shareholders and its vision for the future remain strong.
Maxeon Solar Technologies (MAXN) shares are plummeting on Monday following the company’s announcement of a 1-for-100 reverse stock split. This move comes after Nasdaq issued a delisting warning due to the company’s stock price falling below $1 for 10 consecutive trading days. Maxeon hopes the reverse split will boost its stock price and avoid delisting.
SunPower Corporation (SPWR) shares are plummeting after the company received a Nasdaq delisting notification. The delisting stems from SunPower’s inability to meet Nasdaq listing requirements following its Chapter 11 bankruptcy filing. Trading in SPWR will be suspended on August 16th, 2024, and the stock is expected to begin trading on the Pink Open Market. The news adds to SunPower’s recent struggles, as the solar company filed for bankruptcy last week and is in the process of selling off assets.
Interactive Strength Inc (TRNR) stock surged 75% on Monday after the Nasdaq Hearings Panel granted the company a reprieve from delisting. TRNR had been in violation of Nasdaq’s minimum equity requirement but successfully appealed the delisting notice. The company has until November 14th to meet the requirement.
The United Nations Security Council has unanimously approved more transparent procedures for individuals, companies, and entities seeking to be removed from UN sanctions lists. This resolution, co-sponsored by Malta and the US, also establishes a new working group to improve the effectiveness of UN sanctions.
Playground Games announced that Forza Horizon 4 will be delisted online on December 15th, ending its run after five years. While the game will remain playable, all DLC will be delisted starting Tuesday, and new content purchases will be disabled. Players can still enjoy online and multiplayer modes, and the game will see one final series before its departure.
Vaxxinity Inc., a biotechnology company, has announced its decision to voluntarily delist and deregister its Class A common stock from the Nasdaq exchange. The move comes after the company failed to meet the minimum bid price requirement set by Nasdaq and amid low trading volume. The company believes that delisting will allow it to focus on research and development efforts without being distracted by stock price fluctuations.
