Elme Confirms NYSE Delisting, OTC Trading Starts October 26 as Shares Crash
ELME sits 40% above its 52-week low of $1.26.
Summary
Elme confirmed it will be delisted from the NYSE, with OTC trading starting October 26, 2026, and the shares crashed on the news. This is the expected next step in the liquidation the company laid out on September 29, when it said it expected to delist in early November and declared a $1.74 per share special liquidating distribution after completing its final property sales. The move to OTC matters because it pushes the stock off major exchanges and into a thinner, less liquid market while the remaining payout is wound down. The Q2 10-Q put the total liquidation payout estimate at $16.41 to $16.61 per share, so the gap between that estimate and the current $1.77 price is the whole story for anyone still holding.
At the time of this announcement, ELME was trading at $1.77 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $157.3M. The 52-week trading range was $1.26 to $17.68. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.