Why Micromobility.com (MCOM) Shares Are Down 49%

Micromobility.com Inc. MCOM shares are trading lower by 49.6% to $0.22 Tuesday morning received a notice from Nasdaq stating its stock and warrants would be suspended due to not meeting minimum bid price and equity requirements.

Micromobility.com also postponed a shareholder meeting to reassess their strategy. The company might appeal but is considering delisting due to rising compliance costs.

The company is moving trading to OTC markets, aiming to maintain business operations while complying with SEC reporting standards. Delisting could impact stock liquidity and price.

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According to data from Benzinga Pro, MCOM has a 52-week high of $54.60 and a 52-week low of $27.85.