NYSE To Commence Delisting Proceedings Against Electriq Power Holdings
Portfolio Pulse from Benzinga Newsdesk
The NYSE has initiated delisting proceedings for Electriq Power Holdings, Inc. (ELIQ) due to the company's failure to maintain the required average global market capitalization of $15 million over a 30-day period. Trading of ELIQ's Class A common stock has been suspended immediately, and the company has the right to appeal the decision.
January 16, 2024 | 9:29 pm
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Electriq Power Holdings, Inc. faces delisting from the NYSE after failing to meet the minimum market capitalization requirement, with trading of its stock suspended.
The delisting process typically has a negative impact on a company's stock as it reflects financial instability and reduces investor confidence. The immediate suspension of trading will prevent any transactions in ELIQ's stock, likely leading to a negative perception among investors and potential loss of value.
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