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NYSE American sent the company a notice about its failure to comply with listing standards. That includes failing to regain compliance with Sections 1003(a)(i), (ii) and (iii) after an 18-month period.
Navidea Biopharmaceutical notes that its Board of Directors has decided to appeal the delisting decision. That will result in a meeting with the NYSE Regulation staff to determine if the delisting should continue. The staff may choose against letting NAVB stock remain on the exchange.
What’s Next for NAVB Stock?
Considering the current difficulties the company is facing, it’s entirely possible that its shares will be delisted from the NYSE American Exchange. If that happens, the company has already expressed interest in switching its shares over to the over-the-counter () market. However, until that meeting is done, NAVB will remain on the NYSE American Exchange.
With today’s news comes some 1.3 million shares of NAVB stock changing hands. That’s still well below the company’s daily average trading volume of about 7.5 million shares. Even so, shares of NAVB are falling 12.6% during pre-market trading on Monday morning.
Investors keeping an eye out for all of the hottest stock market news on Monday are going to want to stick around!
We have all of the most recent stock market stories that traders will want to read about today! A few examples include why shares of Aurora Acquisition (NASDAQ:AURC) stock and China Natural Resources (NASDAQ:CHNR) stock are on the rise today, as well as the biggest pre-market stock movers for Monday morning. You can check out all of these topics at the links below!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.