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BQ - Pet Community Operator Boqii Faces Delisting Due To Shriveling Valuation
Boqii Holding Limited American Depositary Shares representing Class A
Online pet community operator Boqii Holding is facing an existential crisis, at least in terms of its Wall Street listing, due to its rapidly shrinking market cap.
Boqii said it also breached NYSE rules requiring listed companies to have stockholder equity of at least $50 million.
In a slightly more encouraging sign, the company’s costs remain well under control, allowing it to improve its gross margin 23.1% from 17.9% in the year-ago quarter.