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Nasdaq Issues New Delisting Rules
Briefly, the new rule requires that if a company listed on Nasdaq has the market value of its listed securities (MVLS) below $5 million for 30 consecutive trading days, it will be immediately suspended and a delisting process will be initiated.
More importantly, unlike the current delisting procedures, even if the company facing delisting files an appeal with Nasdaq’s Listing Qualifications Hearings Committee, the trading halt will not be suspended.
During the appeal period, the company’s stock that is approaching delisting can typically only be traded in over