Nasdaq issues delisting warning to Novonix. The Australian battery materials company's American depositary receipts have traded below the required US$1 minimum for over 10 consecutive business days, triggering a compliance notice from Nasdaq. Novonix now has 180 calendar days to restore its ADR price to at least US$1 for 10 consecutive trading days or face delisting from the US exchange. The graphite anode producer's share price has collapsed dramatically from over A$10 in late 2021 to around 26.5 cents today. While an ADR delisting wouldn't directly impact its ASX listing, it signals serious challenges for the company's market valuation and investor confidence. The company must execute a significant turnaround within the compliance window to avoid losing its US market access.
Post from MarketNews_en
Log in to interact with content.