What's Going On With Shift Technologies Inc Stock?
Portfolio Pulse from Erica Kollmann
Shift Technologies, Inc. (NASDAQ:SFT) has been notified by Nasdaq that it will commence proceedings to delist the company's common stock due to the company's filing of voluntary cases under Chapter 11 of the bankruptcy code. The company does not intend to appeal the delisting determination and SFT stock will be suspended by Nasdaq at the opening of business on Thursday. Ahead of the pending delisting, shares of SFT are moving on heavy trading volume.
October 18, 2023 | 2:55 pm
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Shift Technologies' stock is set to be delisted from Nasdaq due to the company's filing of voluntary cases under Chapter 11 of the bankruptcy code. The company will not appeal the decision. There is heavy trading volume ahead of the delisting.
The news of Shift Technologies' delisting from Nasdaq due to bankruptcy is a significant negative event for the company. This will likely lead to a decrease in the stock's price in the short term. The heavy trading volume suggests that many investors are selling their shares ahead of the delisting.
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