**KindlyMD at Risk of Nasdaq Delisting Due to Prolonged Share Price Drop**
Bitcoin treasury company KindlyMD is at risk of being delisted from the Nasdaq stock exchange, after its share price remained consistently below the exchange’s minimum threshold.
According to Nasdaq’s rules, KindlyMD has until June 8, 2026 to regain compliance. To do so, its shares must close at $1 or more for at least 10 consecutive business days. Currently, the company’s shares—trading under the NAKA ticker—closed at just $0.38 on Tuesday. The price has remained below $1 throughout October and November, and NAKA has plunged nearly 99% from its yearly peak of $34.77.
The exchange may choose to enforce even stricter standards. “Nasdaq may, in its discretion, require the company to maintain such closing bid price for a period in excess of 10 consecutive business days, generally no more than 20 consecutive business days, before determining that the company has regained compliance,” Nasdaq stated in a notice shared by KindlyMD with investors via an SEC filing.
KindlyMD finalized its merger with Nakamoto in August to establish a dedicated Bitcoin entity, appointing David Bailey as CEO of the combined company. However, the company’s troubles intensified in September when previously restricted shares, sold during a $200 million fundraising round, became eligible for trading. At that time, CEO David Bailey addressed shareholders in a letter: “For those shareholders who have come looking for a trade, I encourage you to exit. This transition may represent a point of uncertainty for investors, and we look forward to emerging on the other side with alignment and conviction amongst our backers.”
Additional setbacks followed in November, when KindlyMD was forced to delay its Q3 earnings report, citing complex accounting issues arising from the Nakamoto merger.
Despite these challenges, KindlyMD currently holds 5,398 BTC, valued at approximately $474 million at current Bitcoin prices, according to Bitcoin Treasuries. However, the company’s market capitalization has fallen sharply to $256 million, highlighting the severity of the situation.
https://bitcoinethereumnews.com/bitcoin/bitcoin-treasury-kindlymd-faces-nasdaq-delisting-with-stock-down-99/
