Why ThermoGenesis (THMO) Shares Are Down 40%
Portfolio Pulse from Henry Khederian
ThermoGenesis Holdings Inc (NASDAQ:THMO) shares dropped 41% to $0.33 after Nasdaq denied the company's request for continued listing due to not meeting minimum stockholders' equity requirements. Trading will be suspended on June 17, and the company does not plan to appeal.

June 12, 2024 | 1:31 pm
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ThermoGenesis Holdings Inc (NASDAQ:THMO) shares fell 41% to $0.33 after Nasdaq denied the company's request for continued listing due to not meeting minimum stockholders' equity requirements. Trading will be suspended on June 17, and the company does not plan to appeal.
The denial of the continued listing request by Nasdaq and the subsequent suspension of trading on June 17 are significant negative events for ThermoGenesis. The company's stock price has already dropped 41%, and the lack of an appeal plan further solidifies the negative outlook. The stock is expected to move to the Over-the-Counter Market, which typically has less liquidity and visibility, potentially leading to further declines.
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