ViewRay Announces Commencement Of Nasdaq Delisting Proceedings: Common Stock Expected To Begin Trading On The OTC Markets
Portfolio Pulse from Happy Mohamed
ViewRay, Inc. (NASDAQ:VRAY) announced that it will be delisted from the Nasdaq Stock Market due to its voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code and concerns about its ability to sustain compliance with the $1.00 per share minimum bid price requirement. The company's common stock is expected to begin trading on the OTC markets under the symbol 'VRAYQ'.
July 21, 2023 | 8:01 pm
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ViewRay's stock will be delisted from Nasdaq and start trading on the OTC markets due to bankruptcy proceedings and compliance issues.
The delisting of ViewRay's stock from Nasdaq is a significant event that will likely lead to a decrease in the stock's price in the short term. This is due to the stigma associated with bankruptcy and the fact that OTC markets are generally less liquid and have fewer regulatory requirements than Nasdaq, which can lead to increased risk for investors.
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