Published on 23 Apr 2024 on Benzinga
Why Vaxxinity (VAXX) Shares Are Volatile Today - Vaxxinity (NASDAQ:VAXX)
Vaxxinity Inc VAXX shares are trading lower by 10% to $0.24 during Tuesday’s session. The stock is trading lower on continued volatility after the company announced its intention to voluntarily delist and deregister its Class A common stock.
Vaxxinity has decided to delist from Nasdaq due to non-compliance with the minimum bid price requirement. This move aims to tackle low trading activity, which the company says has been an obstacle in raising capital and attracting investors. By delisting and deregistering, the company says it can concentrate its resources on research and development without being distracted by stock price fluctuations.