Nasdaq to Suspend Inotiv Shares June 11 Amid Bankruptcy Proceedings
NOTV sits 23% above its 52-week low of $0.078 on elevated volume (2.6× avg).
Summary
Nasdaq will suspend trading of Inotiv shares at the opening of business on June 11. This follows the company's Chapter 11 bankruptcy filing on June 3rd and an 8-K filed earlier today that announced the delisting. Delisting from a major exchange like Nasdaq severely impacts liquidity and visibility, marking a critical step in the company's financial restructuring and effectively ending its public trading on a primary market.
At the time of this announcement, NOTV was trading at $0.10 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.9M. The 52-week trading range was $0.08 to $3.19. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.