Movella Reports Nasdaq's Planned Delisting Of Trading Of Securities
Portfolio Pulse from Benzinga Newsdesk
Movella has been notified by Nasdaq that its securities will be delisted, with the last trading day now expected to be on or about April 1, 2024, instead of the previously anticipated April 11, 2024. This follows the company's plan to file a Form 25 with the SEC.
March 26, 2024 | 10:02 pm
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Movella's securities are set to be delisted from Nasdaq, with trading suspension effective around April 1, 2024, following the filing of a Form 25 with the SEC.
The delisting of Movella's securities from Nasdaq is a significant event that directly impacts the company's stock. Delisting typically leads to a decrease in stock price due to reduced visibility, liquidity, and investor confidence. The earlier than expected delisting date may cause a sudden negative reaction in the market.
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