Cyanotech Corp. (CYAN) has released an update.
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Cyanotech Corporation is facing delisting from Nasdaq after its stock price remained below the $1.00 minimum requirement for 30 consecutive business days. The company was given 180 days to comply but failed to meet the criteria and is not eligible for an extension. Consequently, Nasdaq will suspend trading of Cyanotech’s stock on February 20, 2024, with potential for over-the-counter trading, though this is not guaranteed. The company’s future statements are uncertain, reflecting the inherent risks and market variables that could influence its stock price and attempts to address the listing deficiency.
For further insights into CYAN stock, check out TipRanks’ Stock Analysis page.
