Vaxxinity (VAXX) Voluntarily Delists from Nasdaq, to Trade on OTC Markets
Vaxxinity (NASDAQ: VAXX) has announced its plans to voluntarily delist its shares from the Nasdaq Exchange. The company will file to delist its shares on April 29, 2024, and expects its final day of trading on the Nasdaq Exchange to be May 9, 2024.
This delisting is a result of a delisting notice Vaxxinity received in February, which gave the company until August 7, 2024, to get its share price back above the $1 minimum required for compliance. However, Vaxxinity is delisting its shares early to reduce its obligations and save money.
What This Means for VAXX Stock
The voluntary delisting does not mean that VAXX stock will disappear. The company expects its shares to trade on the OTC Markets after May 9. VAXX stock is currently down 58% as of Monday morning, with more than 278,000 shares traded. This is still below its daily average trading volume of about 447,000 shares.
Investors should note that Vaxxinity is taking this action to save money and reduce its obligations. The company believes that this is in the best interests of its shareholders.
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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.
