- The Nasdaq warned MoviePass’s parent company that it would move to delist its stock as soon as December 28.
- Shares of Helios and Matheson have traded below $ 1 a share for nearly the entire time since May, violating Nasdaq’s listing standards.
- The company had until Tuesday to boost its stock price above that threshold, but failed, and the Nasdaq doesn’t think it will be able to ever do it.
- Helios and Matheson plans to appeal the decision, which would delay and possibly avert the delisting.
The parent company of MoviePass may soon no longer have its shares trading on the Nasdaq market.
The Nasdaq warned Helios and Matheson on Wednesday that it plans to suspend trading in the company’s shares on December 28 and will move to have them delisted, Helios and Matheson disclosed Friday in a document filed with the Securities and Exchange Commission. The company plans to delay and potentially head off the delisting by appealing the exchange’s decision.See the rest of the story at Business Insider
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