Delisting of Securities of Core Scientific, Inc.; The Very Good Food Company Inc.; HyreCar Inc.; Reeds, Inc.; Sorrento Therapeutics, Inc.; CYREN Ltd.; Lucira Health, Inc.; Qutoutiao Inc.; and Sio Gene Therapies Inc. from The Nasdaq Stock Market
The Nasdaq Stock Market has announced the delisting of several companies, including Core Scientific, The Very Good Food Company, HyreCar, Reeds, Sorrento Therapeutics, CYREN, Lucira Health, Qutoutiao, and Sio Gene Therapies.
Sentiment and the balance of points
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Rhea-AI Summary
The Nasdaq Stock Market has announced the delisting of several companies, including Core Scientific, The Very Good Food Company, HyreCar, Reeds, Sorrento Therapeutics, CYREN, Lucira Health, Qutoutiao, and Sio Gene Therapies. The securities of these companies have faced trading suspensions since early 2023, with Core Scientific being suspended since January 3. The delistings will be formalized through the filing of a Form 25 with the SEC, becoming effective 10 days post-filing. Investors are encouraged to review public filings for additional insights regarding the basis for these delistings.
Positive
- None.
Negative
- Delisting of multiple companies indicates severe financial distress, potentially harming investor confidence.
- Suspensions since January-March 2023 suggest ongoing operational issues for affected companies.
Details
News Market Reaction – NDAQ
The recorded move for NDAQ in the trading session of this news was -0.06%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, April 10, 2023 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market announced today that it will delist the common stock and warrant of Core Scientific, Inc. Core Scientific, Inc. securities were suspended on January 3, 2023, and have not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the common shares of The Very Good Food Company Inc. The Very Good Food Company Inc. common shares were suspended on January 23, 2023, and have not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the common stock of HyreCar Inc. HyreCar Inc.’s common stock was suspended on February 3, 2023, and has not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the common stock of Reeds, Inc. Reeds, Inc.’s common stock was suspended on February 16, 2023, and has not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the common stock of Sorrento Therapeutics, Inc. Sorrento Therapeutics, Inc.’s common stock was suspended on February 23, 2023, and has not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the ordinary shares of CYREN Ltd. CYREN Ltd. ordinary shares were suspended on March 3, 2023, and have not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the common stock of Lucira Health, Inc. Lucira Health, Inc. common stock was suspended on March 6, 2023, and has not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the American Depositary Shares of Qutoutiao Inc. Qutoutiao Inc. shares were suspended on March 23, 2023, and have not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the common stock of Sio Gene Therapies Inc. Sio Gene Therapies Inc. common stock was suspended on March 23, 2023, and has not traded on Nasdaq since that time.
Nasdaq will file a Form 25 with the Securities and Exchange Commission to complete the delistings. The delistings become effective ten days after the Form 25 is filed. For news and additional information about the companies, including the basis for the delisting and whether the companies’ securities are trading on another venue, please review the companies’ public filings or contact the company directly.
For more information about The Nasdaq Stock Market, visit the Nasdaq Web site at http://www.nasdaq.com. Nasdaq’s rules governing the delisting of securities can be found in the Nasdaq Rule 5800 Series, available on the Nasdaq Web site: https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/nasdaq-5800-series.
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