Nasdaq Moves to Delist Pitanium After SEC Trading Suspension
PTNM has more than doubled off its 52-week low of $0.98.
Summary
Nasdaq has issued a delisting determination to Pitanium, following an SEC trading suspension in October 2025 over potential social-media manipulation. The company has until July 14 to appeal; otherwise, trading halts on July 16. This formalizes the delisting process first reported on July 7, adding specific deadlines and the Nasdaq rule invoked. Pitanium says the move doesn't affect its operations and that shares may trade OTC, but liquidity is uncertain. The appeal deadline is the immediate catalyst — if no appeal is filed, the stock will be suspended next week.
At the time of this announcement, PTNM was trading at $10.39 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $236.4M. The 52-week trading range was $0.98 to $14.79. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.