Nasdaq Notifies Cardlytics of Delisting Risk for Sub-$1 Stock Price
CDLX is trading near its 52-week low of $0.57 (8.8% above the low) on light trading volume (0.4× avg).
Summary
Cardlytics has received a formal notice from Nasdaq for failing to maintain the $1.00 minimum bid price for 30 consecutive business days. This follows shareholder approval in May for a reverse stock split (1-for-5 to 1-for-15) to address this exact issue. An 8-K filed earlier today confirmed the company is implementing a 1-for-10 reverse split. While Cardlytics has until November 30, 2026, to regain compliance, this formal notice underscores the critical need for the reverse split to be effective. Failure to meet listing requirements could lead to delisting, significantly impacting the company's liquidity and investor appeal.
At the time of this announcement, CDLX was trading at $0.62 on NASDAQ in the Technology sector, with a market capitalization of approximately $37.4M. The 52-week trading range was $0.57 to $3.28. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.