Breaking: Gamer Pakistan (GPAK) Stock Plummets as It Gets Delisted from Nasdaq Exchange
The stock of Gamer Pakistan (NASDAQ: GPAK) took a hit on Friday after the company announced that its shares will be delisted from the Nasdaq Exchange. This decision came after the Nasdaq Hearings Panel denied the company’s request to remain listed due to non-compliance with the $1 minimum bid price requirement.
In response to this news, Gamer Pakistan CEO James Knopf expressed disappointment but remained committed to the company’s long-term strategy of creating shareholder value.
What Does This Mean for GPAK Stock?
Following the delisting, GPAK stock will cease trading on the Nasdaq Exchange and is expected to move to the OTC Markets Group platform. The company plans to apply to the OTCQB Market or other OTC markets and anticipates retaining the GPAK stock ticker.
As of Friday morning, GPAK stock is down 43.3% with trading volume below its daily average. Investors should stay tuned for more updates on the stock market.
In conclusion, the delisting of Gamer Pakistan from the Nasdaq Exchange is a significant event that can impact investors and shareholders. It is essential for investors to stay informed about such developments and adjust their investment strategies accordingly. Stay tuned for more updates on the latest stock market news and trends to make informed financial decisions.