Siyata Announces Nasdaq Delisting Notice and Nasdaq Appeal; Co Intends To Appeal The Staff Determination By Requesting A Hearing Before A Nasdaq Hearings Panel
Portfolio Pulse from Happy Mohamed
Siyata Mobile Inc. (SYTA, SYTAW) has received a delisting notice from Nasdaq due to failure to maintain a minimum bid price of $0.10 per share for 10 consecutive trading days. The company plans to appeal this decision and has requested a hearing. Siyata is also facing a delisting determination for not maintaining a closing bid price of $1.00 per share for 30 consecutive trading days. The company plans to comply with these rules by effecting a reverse stock split, pending shareholder approval.
July 03, 2023 | 5:07 pm
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NEGATIVE IMPACT
Siyata Mobile Inc. (SYTA) faces potential delisting from Nasdaq due to low bid prices. The company plans to appeal and is considering a reverse stock split.
The news of potential delisting from Nasdaq is a significant negative event for Siyata Mobile Inc. (SYTA). This could lead to a decrease in investor confidence and a potential drop in the stock price. The company's plan to effect a reverse stock split could also lead to short-term volatility in the stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Siyata Mobile Inc. (SYTAW) faces potential delisting from Nasdaq due to low bid prices. The company plans to appeal and is considering a reverse stock split.
The news of potential delisting from Nasdaq is a significant negative event for Siyata Mobile Inc. (SYTAW). This could lead to a decrease in investor confidence and a potential drop in the stock price. The company's plan to effect a reverse stock split could also lead to short-term volatility in the stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100