Argo Blockchain asked Nasdaq to suspend stock trading

Argo Blockchain asked Nasdaq to suspend stock trading

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Author: Robert Strickland
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Argo Blockchain asked Nasdaq to suspend stock trading

British mining company Argo Blockchain has asked Nasdaq to suspend trading in the stock until a statement on Wednesday, Dec. 28.

The firm will issue a press release before the trading session begins.

According to the company's Twitter, the exchange notified it of a potential delisting back on Dec. 16 - the stock has been trading below $1 for 30 days, which is a violation of the rules.


Earlier, Bitfarms received a similar warning from Nasdaq.

Back on December 12, the London Stock Exchange suspended trading in Argo stock. The community linked this to expectations about the company's bankruptcy filing.

Argo explained that the insolvency statement leaked online was erroneous. The company also assured that it was looking for sources of external financing.

At the end of October, the firm admitted that it was unable to complete a £24 million deal to sell shares.

Recall that on December 21, Core Scientific, one of North America's largest miners, filed for insolvency under Chapter 11 of the U.S. Bankruptcy Code.

 

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