iMedia brands shares are trading lower after the company announced it received a delisting notice from Nasdaq following its Chapter 11 filing.
Portfolio Pulse from Benzinga Newsdesk
iMedia Brands has received a delisting notice from Nasdaq following its Chapter 11 bankruptcy filing. This has led to a decrease in the company's share price.
July 07, 2023 | 1:27 pm
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iMedia Brands' shares are trading lower after the company received a delisting notice from Nasdaq due to its Chapter 11 filing.
The delisting notice from Nasdaq is a significant negative event for iMedia Brands. It indicates that the company's financial situation is severe enough to warrant removal from the stock exchange. This news is likely to decrease investor confidence, leading to a drop in the company's share price.
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