Why ThermoGenesis (THMO) Shares Are Down 40%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 12 2024
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Source: Benzinga
- ThermoGenesis Holdings Inc Stock Decline: THMO shares dropped by 41% to $0.33 after Nasdaq denied the company's request for continued listing, leading to suspension of trading on June 17.
- Nasdaq Notification: ThermoGenesis was informed on April 19 that its stockholders' equity did not meet the minimum requirement for continued listing and failed to meet alternative Nasdaq requirements.
- Denial of Continued Listing Request: Nasdaq denied ThermoGenesis' request due to a lack of a definitive plan for compliance, resulting in the upcoming delisting of the company's securities.
- Appeal Option: The company has until June 13 to appeal the decision by paying a fee of $20,000, but currently does not plan to do so. If no appeal is made, the stock is expected to trade on the Over-the-Counter Market.
- Stock Performance: THMO has a 52-week high of $1.82 and a low of $0.36, according to data from Benzinga Pro.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
