Delisting of Securities of GWG Holdings, Inc. from The Nasdaq Stock Market
The Nasdaq Stock Market announced the imminent delisting of GWG Holdings common stock following its suspension on April 29, 2022.
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Rhea-AI Summary
The Nasdaq Stock Market announced the imminent delisting of GWG Holdings common stock following its suspension on April 29, 2022. The delisting is set to become effective ten days after filing Form 25 with the U.S. Securities and Exchange Commission. Investors are advised to check public filings for further details and any trading updates on other platforms. This decision underscores significant challenges facing GWG Holdings, impacting its stock stability.
Positive
- None.
Negative
- Delisting of GWG Holdings common stock indicates financial instability and lack of trading activity since suspension.
- The process is triggered by inability to meet Nasdaq's listing requirements.
Details
News Market Reaction – NDAQ
The recorded move for NDAQ in the trading session of this news was -4.50%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, May 17, 2022 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market announced today that it will delist the common stock of GWG Holdings, Inc. GWG Holdings, Inc.’s common stock was suspended on April 29, 2022, and has not traded on Nasdaq since that time.
Nasdaq will file a Form 25 with the U.S. Securities and Exchange Commission to complete the delisting. The delisting becomes effective ten days after the Form 25 is filed. For news and additional information about the company, including the basis for the delisting and whether the company's securities are trading on another venue, please review the company's 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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