Argo Blockchain Comot for Nasdaq After Shares Fall Under $1
Argo Blockchain for face delisting for Nasdaq as de London-based bitcoin miner fail make di $1 minimum bid we Nasdaq require. Di company get 180-day compliance period from Nasdaq for January but e don trade below $1 for 30 days straight. ARBK shares now stand for $0.31. Argo Blockchain plan to request for hearing with Nasdaq Panel to show compliance plan. Things we dem fit do dey include operational improvements, financial restructuring and reverse stock split. Dem never talk exact action like share buybacks or buyback programs yet. If dem no fit regain compliance, ARBK shares go move to over-the-counter trading, wey go reduce liquidity and investor confidence. Delisting fit block bitcoin miner from accessing capital and expansion plans. Dis case dey show wider challenges for mining sector like low bitcoin price, rising energy cost and increased network difficulty. Traders suppose watch Argo Blockchain Nasdaq Delisting hearing well to sabi how e fit affect market.
Bearish
Di Okom Argo Blockchain Nasdaq dem go remove am, e mean say e bad for ARBK shares. For short time, di company no fit meet di $1 bid tin dem need, plus di risk say dem go dey trade footfoit (over-the-counter trading), dis one fit make people sell pass and di trading sharp go low. Investors fit lose belief for di stock and di bigger bitcoin mining sector because di delisting go reduce how easy e be to buy and sell and how dem fit get money.
For long time, di tins fit balance if di Nasdaq Panel hear di matter and approve clear plan say dem go follow all di rules. But, for now, people still dey fear about tins like reverse stock splits and financial restructuring until ting dem clear. All in all, dis news go keep putting pressure down inside ARBK and other mining stocks wey relate.