EQONEX Announces Receipt of Nasdaq Delisting Notice and Suspension of Trading
Rhea-AI Summary
EQONEX Limited (NASDAQ: EQOS) announced on November 21, 2022, that it received a notice from Nasdaq regarding the delisting of its securities. Trading is set to be suspended at the start of business on November 30, 2022. In response, the company has requested a hearing before the Nasdaq Hearings Panel to appeal this determination. However, this appeal will not alter the upcoming trading suspension.
Positive
- None.
Negative
- Delisting from Nasdaq indicates severe compliance issues.
- Trading suspension starts November 30, 2022, impacting liquidity.
- Requesting a hearing suggests ongoing financial instability.
News Market Reaction – EQOS
In the trading session that priced this news, EQOS declined 33.88%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Singapore, Nov. 29, 2022 (GLOBE NEWSWIRE) -- As previously announced, EQONEX Limited (NASDAQ: EQOS) (“EQONEX” or the “Company”) received a notice from The Nasdaq Stock Market LLC (“Nasdaq”) on November 21, 2022 that the staff of Nasdaq’s Listing Qualifications department (the “Staff”) has determined that the Company’s securities will be delisted from Nasdaq. Trading in the Company’s securities will be suspended at the opening of business on November 30, 2022.
The Company has requested a hearing before the Nasdaq Hearings Panel to appeal the Staff’s determination. The Company’s request, however, will not impact the upcoming suspension of trading in the Company’s securities.
For investor and media inquiries, please contact:
Investor Relations at ir@eqonex.com
