Entertainment
Bird gets a warning from the NYSE because its stock price is too low
Scooter and micro-mobility company Bird has to fly at a slightly higher altitude — at least if it wants to keep its New York Stock Exchange (NYSE) listing. The company issued a press release on Friday noting that it had received word from the NYSE that its share price was “not in compliance” with the exchange’s requirement that Class A Common Stock for a listed company be at least $1.00 over the course of a consecutive 30-day trading period.
Bird’s share price has followed a fairly consistent downward trajectory since its debut via a SPAC merger last November. The closing price has remained below $1 per share since around mid-May, just after when it reported its first fiscal quarterly earnings for 2022. Those results saw revenue, gorss margins and ride profit drop quarter over quarter — those ride profit grew considerably year-over-year.
The non-compliance note from NYSE doesn’t mean immediate delisting — it’s a preliminary step that gives Bird six months to get back in compliance, which means holding an average share price of at least $1 across a span of 30 consequtive trading days and also having a share value above $1 on the final trading day of that same month. To get above water, Bird says in its release that it will be considering a nubmer of options, including a reverse stock split (pending shareholder approval).
Bird’s share price closed at $0.5558 on the trading day.
-
Business7 days ago
Women in AI: Rep. Dar’shun Kendrick wants to pass more AI legislation
-
Entertainment3 days ago
‘Furiosa: A Mad Max Saga’ review: George Miller’s blazing action folktale might just have outdone ‘Fury Road’
-
Business6 days ago
Healthy growth helps B2B food e-commerce startup Pepper nab $30 million led by ICONIQ Growth
-
Entertainment4 days ago
‘House of the Dragon’ Season 2 trailer breakdown: Dragons, Rook’s Rest, and more
-
Entertainment4 days ago
Sex education is under threat in the UK. What’s going on?
-
Business4 days ago
Orange Charger thinks a $750 outlet will solve EV charging for apartment dwellers
-
Business3 days ago
Senate study proposes ‘at least’ $32B yearly for AI programs
-
Entertainment5 days ago
Apple iPad Pro 2024 (13-inch) review: The battery life is bonkers