Crypto custody and trading platform Bakkt has received a warning from the New York Stock Exchange (NYSE) regarding its non-compliance with the stock exchange’s listing rules.
According to the NYSE, the platform has not been able to maintain its closing share price above $1 for the past 30 days, hence facing delisting risk.
Bakkt Plans to Resolve the Issue
On Wednesday, Bakkt informed the NYSE of its intention to address the stock price discrepancy and comply with the required listing standards. The company now has a six-month window to elevate its stock price to meet the minimum threshold.
According to regulations, Bakkt must inform the NYSE if it plans to resolve the issue through an action requiring shareholder approval. If the stock price rises above $1.00 per share and maintains this level for 30 consecutive trading days, the non-compliance will be resolved.
Bakkt has stated that it intends to explore all…
