Why Galera Therapeutics (GRTX) Stock Is Nosediving
Portfolio Pulse from Henry Khederian
Galera Therapeutics Inc (NASDAQ:GRTX) shares plummeted by 34.8% to $0.14 after receiving a delisting notice from Nasdaq due to non-compliance with listing standards. Trading will be suspended on June 4, 2024, and the company plans to move to OTC Markets Group.
June 03, 2024 | 3:17 pm
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Galera Therapeutics Inc (NASDAQ:GRTX) shares dropped 34.8% to $0.14 after receiving a delisting notice from Nasdaq due to non-compliance with listing standards. Trading will be suspended on June 4, 2024, and the company plans to move to OTC Markets Group.
The delisting notice from Nasdaq is a significant negative event for Galera Therapeutics, leading to a sharp decline in its stock price. The move to OTC Markets Group indicates a downgrade in trading status, which is likely to further impact investor confidence and stock performance negatively.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100