What's Going On With Shift Technologies Inc Stock?

Shift Technologies, Inc. SFT shares are volatile Wednesday and the stock is set to be listed from the Nasdaq at the start of business Thursday. 

What To Know:

On Oct. 10, Shift Technologies was notified by the Nasdaq that it commenced proceedings to delist the common stock has determined that shares of SFT will be delisted from the Nasdaq due to the company’s filing of voluntary cases under Chapter 11 of the bankruptcy code.

Shift Technologies, Inc. does not intend to appeal the delisting determination and SFT stock will be suspended by Nasdaq at the opening of business on Thursday. 

Shares of SFT are moving on heavy trading volume on Wednesday ahead of the pending delisting.

According to data from Benzinga Pro, more than 88 million shares have already been traded in the session, compared to the stock's 100-day average of 2.121 million shares.

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SFT Price Action: According to Benzinga Pro, Shift Technologies shares are up 135% at 25 cents at the time of publication.

Image: Gerd Altmann from Pixabay