Tag: consistently

The post Bitcoin Treasury KindlyMD Faces Nasdaq Delisting With Stock Down 99% appeared com. In brief KindlyMD risks Nasdaq delisting as shares closed at $0. 38, below the required $1 minimum. The company must maintain a closing price of $1+ for at least 10 consecutive days by June 8, 2026 to regain compliance. Troubles mounted after the Nakamoto merger, with unlocked shares in September and delayed Q3 earnings in November. Bitcoin treasury company KindlyMD is at risk of being delisted from Nasdaq. According to the exchange’s rule, the company has until June 8, 2026 to regain compliance. To do that, the company’s share price has to close at $1 or more for a minimum of 10 consecutive business days. The company’s shares-which trade on Nasdaq under the NAKA ticker-closed at $0. 38 on Tuesday. The shares have consistently closed below $1 through October and November, with NAKA falling nearly 99% from its yearly peak price of $34. 77.  The exchange has room to be more stringent. “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 wrote in its notice, which KindlyMD shared with investors through an SEC filing. KindlyMD completed its merger with Nakamoto to establish a Bitcoin merger in August, with David Bailey as CEO of the combined company. But trouble really began brewing in September when previously restricted shares sold during the firm’s $200 million fundraise were unlocked. “For those shareholders who have come looking for a trade, I encourage you to exit,” Bailey said in a shareholder letter at the time. “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.” The company saw.