RGTI - Hyzon Motors (HYZN) Stock Plunges Ahead of Potential Feb. 14 Delisting
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Hyzon Motors (NASDAQ:HYZN) stock is falling on Friday after the hydrogen fuel cell vehicle company received a delisting notice.
That notice comes from The Nasdaq Capital Market and would result in shares of HYZN stock being delisted from the exchange come Feb. 14. The company says it intends to appeal this decision to give it time to regain Nasdaq compliance.
Appealing the delisting notice will have Hyzon Motors meet with Nasdaq Hearings Panel. The company notes that it intends to submit its appeal to the stock exchange today. If accepted, it could extend the company’s time before being delisted.
Why Is HYZN Stock In Delisting Danger?
Hyzon Motors’ delisting problems have to do with its earnings report for the quarter that ended Sept. 30, 2021. The company has yet to file an amended earnings report and says it won’t make it by the required Feb. 13, 2023 deadline.
Today’s delisting news has caught the eye of HYZN stockholders and they’re selling shares. This has brought about heavy trading with some 3.5 million shares of the stock on the move as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 820,000 shares.
HYZN stock is down 26.7% as of Friday morning. That wipes out the gains the company saw over the last several weeks.
Investors looking for more of the latest stock market news will want to keep reading!
We’ve got all of the hottest stock coverage traders need to know about on Friday! That includes why shares of Rigetti Computing (NASDAQ:RGTI), News Corp. (NASDAQ:NWSA), and JD.com (NASDAQ:JD) stock are in the news today. You can learn all about these matters at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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