EQONEX Announces Receipt of Nasdaq Delisting Notice and Suspension of Trading
EQONEX Limited (NASDAQ: EQOS) announced on November 21, 2022, that it received a notice from Nasdaq regarding the delisting of its securities.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
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.
Details
News Market Reaction – EQOS
The recorded move for EQOS in the trading session of this news was -33.88%.
Data tracked by StockTitan Argus. Session date unavailable.
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
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