Why BioSig Technologies (BSGM) Shares Are Down Over 60%

BioSig Technologies BSGM shares are trading lower by 67% to $0.55 during Tuesday’s session after the company said it was notified by the Nasdaq Hearings Panel that its common stock will be delisted from the Nasdaq Stock Market due to non-compliance with the minimum stockholders’ equity requirement.

Consequently, trading of the company’s stock will be suspended on Nasdaq starting June 12. The stock is expected to trade on the OTC Markets’ Pink Current Information tier under the symbol “BSGM” beginning the same day.

The company intends to request the Panel’s reconsideration and appeal the decision to the Nasdaq Listing and Hearing Review Council, although there is no assurance of success in these efforts.

See Also: May Inflation Report Clashes With Fed Meeting: Traders Brace For Volatile Wednesday

According to data from Benzinga Pro, BSGM has a 52-week high of $15.50 and a 52-week low of $0.26.