Earlier Reported, micromobility.com Inc. To Address Nasdaq Delisting Notice; Postpones Special Meeting And Withdraws Reverse Split Request
Portfolio Pulse from Benzinga Newsdesk
micromobility.com Inc. (NASDAQ:MCOM) received a Nasdaq Delisting Notice due to non-compliance with minimum bid price and stockholders' equity requirements. The company postponed its Special Meeting and withdrew its reverse split request. It is considering whether to appeal the delisting decision, weighing the costs and benefits of Nasdaq listing against potential savings from delisting. MCOM plans to transfer its stock and warrants trading to the OTC markets under the same symbols, with the transition not affecting its business operations or SEC reporting obligations.
December 19, 2023 | 3:40 pm
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MCOM received a delisting notice from Nasdaq and is considering an appeal. The company is transitioning to OTC markets, which may impact liquidity and trading price. The delisting could lead to cost savings but also affect investor perception.
The delisting notice and the subsequent transition to the OTC markets are likely to negatively impact MCOM's stock price in the short term due to concerns over reduced liquidity and visibility. However, the company's focus on cost savings and continued operations may mitigate some investor concerns.
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