Why Berkshire Grey Stock Dived by 17% This Week
One of the worst events a publicly traded company can experience is the delisting of its stock. This has lately become a worrying possibility with the shares of robotics company Berkshire Grey (NASDAQ: BGRY); as a result, the stock's price cratered by 17% this week, according to data compiled by S&P Global Market Intelligence.
Berkshire Grey disclosed in a regulatory filing that it had received formal notice from the Nasdaq exchange, on which its stock is traded, that it was not in compliance with the exchange's minimum listing price requirement. This was triggered by the company's shares recently trading for less than $1 apiece for 30 trading days in a row.
As per its rules, Nasdaq is giving Berkshire Gray until July 10 to regain compliance with the requirement.
Source Fool.com
