Nasdaq To Delist Long Blockchain With Trading To Move To OTC Markets
On Tuesday, Long Blockchain Corp. (NasdaqCM: LBCC) announced that the Company received a delisting determination letter from the Hearings Panel of The Nasdaq Stock Market relating to the Company’s common stock.
In December, Long Island Iced Tea Corp. rebranded as “Long Blockchain Corp.” and saw its stock price rise to highs of about $10.
LBCC currently sits at around $1 with a market cap of about $10 million. Nasdaq’s rules require that a listed company’s market capitalization remain above $35 million for ten business days in a row.
Following its delisting, LBCC will trade on the OTC Pink Sheets with the goal of quickly uplisting to the OTCQB.
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