Velo3D, Inc. Receives Continued Listing Standards Notice From The NYSE
Portfolio Pulse from Benzinga Newsdesk
Velo3D, Inc. (VLD) has received a notice from the NYSE for not meeting the minimum average closing price requirement over a 30-day period. VLD has a six-month period to regain compliance, which can be achieved if its stock closes at $1.00 or more on the last trading day of any month during this period and maintains that average for the 30-day period. VLD is considering options, including a reverse stock split, to meet the NYSE's standards and intends to remain listed.
January 03, 2024 | 9:13 pm
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Velo3D, Inc. is at risk of being delisted from the NYSE if it cannot increase its stock price to meet the minimum requirement. The company is exploring options, including a reverse stock split, to regain compliance.
The notice from the NYSE is a negative signal indicating that VLD's stock price is below the required minimum, which could lead to delisting if not addressed. The potential for a reverse stock split or other measures to regain compliance may create uncertainty among investors, likely putting downward pressure on the stock price in the short term.
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