Left-wing outlet Buzzfeed has been threatened with delisting from the NASDAQ exchange after its share prices crashed below $1.
On May 31, Buzzfeed received a letter from NASDAQ notifying the firm that for the previous 30 consecutive business days, the bid price for the company’s common stock has closed below the minimum $1 required for continued listing. “The Company has been provided an initial period of 180 calendar days, or until Nov. 27, 2023 (the ‘Compliance Date’), to regain compliance with the Bid Price Requirement,” the May 31 delisting notice said.
Buzzfeed’s share was trading at $0.66 as of 11:14 a.m. EDT on June 5, which is down 10.22 percent year to date. Over the past year, the share has fallen by over 70 percent….