On October 24, LumiraDx Announces Receipt Of NASDAQ Delisting Determination; Plans To Appeal
Portfolio Pulse from Benzinga Newsdesk
LumiraDx Limited (NASDAQ:LMDX) has received a notice from the Nasdaq Stock Market stating that its securities are subject to delisting due to non-compliance with the Minimum Bid Price Requirement. The company has not regained compliance within the provided 180 days. LumiraDx intends to appeal the delisting determination and is working on a plan to regain compliance.
October 27, 2023 | 9:29 pm
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LumiraDx Limited is facing delisting from Nasdaq due to non-compliance with the Minimum Bid Price Requirement. The company plans to appeal the decision.
The news of potential delisting is a significant negative event for LumiraDx. Delisting from a major exchange like Nasdaq can lead to a decrease in the liquidity of the stock, making it harder for investors to buy or sell. This can lead to a decrease in the stock price. However, the company plans to appeal the decision, which could potentially reverse the situation.
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