Published on 22 Apr 2024 on Benzinga
Why Vaxxinity (VAXX) Shares Are Down Nearly 50% - Vaxxinity (NASDAQ:VAXX)
Vaxxinity Inc VAXX shares are trading lower by 47% to $0.25 during Monday’s session after the company announced its intention to voluntarily delist and deregister its Class A common stock.
This decision follows non-compliance with Nasdaq’s minimum bid price requirement and aims to address low trading value and volume, which hinder the company’s ability to raise capital and attract investor interest. By delisting and deregistering, Vaxxinity intends to focus resources on research and development efforts without the distraction of stock price fluctuations.