Nasdaq may exclude Long Blockchain from listing due to lower capitalization

Nasdaq may exclude Long Blockchain from listing due to lower capitalization

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Long Blockchain may be excluded from the list of the Nasdaq Stock Exchange. As reported by CoinDesk, this decision is being discussed in connection with the declining market capitalization of the company.

According to the publication, today the capitalization of Long Blockchain is $ 33.01 billion, although by the rules of the Nasdaq site it should be at the level of $ 35 billion within ten working days.

The document published by the US Securities and Exchange Commission states that to exclude delisting, the company must demonstrate market capitalization at an appropriate level before April 9.

In addition, according to the document, another possible reason for delisting may be “public statements” of representatives of Long Blockchain, who allegedly could mislead investors. But, the company denied these charges, having addressed to the decision of a question in judicial board.

Currently, Long Blockchain shares continue to be traded on the exchange under the LBCC ticker.

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