Sonic Foundry Inc SOFO shares are trading lower by 57% to $0.16 Tuesday morning after the company received a delisting notice from Nasdaq due to not meeting certain stock price and stockholders' equity requirements.
As a result, trading of their stock on Nasdaq will stop on December 5. Sonic Foundry CEO Joe Mozden, Jr expressed disappointment but remained focused on the long-term strategy to grow the company through new ventures like Global Learning Exchange™ and Vidable®.
The company expects its stock to start trading on the OTC Markets Group platform on the same day and plans to apply for listing on the OTCQB Market or another OTC market in the near future.
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According to data from Benzinga Pro, SOFOs has a 52-week high of $54.60 and a 52-week low of $27.85.
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