Nasdaq Moves to Delist Stardust Power on October 23; CFO Resigns Same Day
SDST is trading near its 52-week low of $0.023 (13% above the low).
Summary
Nasdaq has determined to suspend trading and delist Stardust Power's stock and warrants at the open on October 23, 2026, after the shares closed at $0.10 or less for ten straight days. The CFO resigned effective the same day, and the company is weighing an OTC move, cost cuts, dropping SEC reporting, or a sale.
Key Events · Legal and Risk Events · SDST
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Nasdaq Staff Delisting Determination
On October 15, 2026, Nasdaq's Staff determined to suspend trading in SDST common stock and warrants and delist the securities at the opening of business on October 23, 2026, with a Form 25-NSE to follow.
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Penny-Price Trigger Under Rule 5810(c)(3)(A)(iii)
The determination was triggered because the stock closed at $0.10 or less for ten consecutive trading days as of October 14, 2026, cutting short the 180-day bid-price cure period that ran to March 10, 2027.
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Appeal Deadline and $20,000 Fee
A hearing request must reach Nasdaq by 4:00 p.m. ET on October 23, 2026, with a non-refundable $20,000 fee due within seven calendar days; a timely request does not stay the trading suspension.
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CFO Resigns Effective October 23
Udaychandra Devasper notified the company on October 14, 2026 of his resignation as Chief Financial Officer, effective October 23, 2026 — the same date as the scheduled delisting.
Analysis · SDST · Manufacturing
Nasdaq has moved past the earlier bid-price warning and issued a Staff Delisting Determination: because SDST closed at $0.10 or less for ten straight trading days, trading in the stock and warrants is set to be suspended and the securities removed from Nasdaq at the open on October 23, 2026. A hearing request by that same 4:00 p.m. ET deadline costs $20,000 and, critically, does not pause the suspension — so the company could be off Nasdaq before any appeal is heard. The CFO's resignation, effective the same October 23 date, removes the person responsible for the company's finances at the moment it is trying to raise capital and avoid losing its listing. Management is now weighing OTC quotation, cutting headcount, suspending SEC reporting, and a possible sale or merger, with no assurance any of it happens. For a company already in default on its Lind note and down to roughly $0.5M of cash, losing Nasdaq liquidity and public reporting is close to a terminal outcome for the current equity.
At the time of this filing, SDST was trading at $0.03 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $1.1M. The 52-week trading range was $0.02 to $5.55. This filing was assessed with negative market sentiment and an importance score of 10 out of 10.