Sonic Foundry Announces Delisting From Nasdaq
Portfolio Pulse from Benzinga Newsdesk
Sonic Foundry, Inc. (NASDAQ:SOFO) received a final delisting notice from Nasdaq due to non-compliance with the minimum bid price and stockholders' equity requirements. Trading of SOFO's common stock on Nasdaq will be suspended from December 5, 2023, and the company will begin trading on the OTC Markets Group platform under the same symbol. Despite the delisting, CEO Joe Mozden, Jr. remains focused on growth and the development of new businesses like Global Learning Exchange™ and Vidable®.
December 04, 2023 | 9:18 pm
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Sonic Foundry will be delisted from Nasdaq and commence trading on the OTC Markets due to failure to meet Nasdaq's listing requirements. The company's focus on growth and new services remains unchanged.
Delisting from a major exchange like Nasdaq typically has a negative impact on a company's stock due to reduced visibility, liquidity, and investor confidence. However, the company's proactive approach to growth and securing new contracts may mitigate some negative sentiment.
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IMPORTANCE 90
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