Bakkt has posted back-to-back losses and a plummeting share price since listing in October 2021 and the NYSE is threatening to pull it.
The New York Stock Exchange (NYSE) has threatened to delist crypto custody and trading platform Bakkt if it doesn’t get its average closing share price back above $1.
In a March 13 press release, Bakkt said the NYSE notified it that it was not in compliance with the stock exchange’s listing rules as over the past 30-day trading period, its share price closed below $1 on average.
Bakkt closed trading on March 13 at 60 cents, up 2.8% on the day but has fallen nearly 42% over the month from above $1. It once traded at a high of over $40 in late October 2021, according to Google Finance.
