FX.co ★ AERWINS Technologies To Delist From Nasdaq; Stock Plunges

AERWINS Technologies Inc. (AWIN) has announced that the Nasdaq Hearings Panel has decided to delist the company's common shares from the Nasdaq Stock Market LLC. Effective June 18, 2024, the trading of these shares will be suspended. The company has decided that appealing this decision would not be in its overall best interests.

Previously, AERWINS received a final delisting notice from the Nasdaq Hearings Panel due to non-compliance with the Panel's terms.

The company is now considering a range of strategic alternatives for its business. These include the possible sale of the business, seeking joint venture partners, and exploring options for listing its common shares on an alternative trading market as soon as possible after the Nasdaq suspension.

On Monday, AWIN's stock closed regular trading at $3.34, down $0.59 or 15.01%. In after-hours trading, the stock further declined by $1.59 or 47.61%.