NYSE

Enterprise

NYSE Halts Fisker Trading

The New York Stock Exchange said Monday it will immediately suspend trading shares of EV startup Fisker and is moving to take the company off of its stock exchange. The exchange said Monday that Fisker’s stock is “no longer suitable for listing” because of “abnormally low” price levels. The decision comes a month after Fisker was warned by the NYSE that its stock price had spent 30 days trading below $1, putting it out of compliance with the exchange’s rules. The suspension caps a tumultuous day for Fisker, which saw shares fall more than 28% before trading was halted. The suspension comes just hours after Fisker announced it lost a potential deal with a large automaker, reported to be Nissan — a development that has also endangered a recently-announced attempt at securing emergency funding.

Zara Khan
March 25, 2024

Enterprise

Bird, Leading Electric Scooter Company, Declares Bankruptcy

Bird has filed for Chapter 11 bankruptcy, capping off a turbulent year for the electric scooter company. This decline led the NYSE to issue a warning that Bird’s share price was too low. Separately, Bird also announced a round of layoffs shortly after buying rival Spin for $19 million. Chapter 11A Chapter 11 bankruptcy will enable Bird to restructure its financials without disrupting day-to-day operations, with Apollo Global Management division MidCap Financial among existing lenders providing $25 million in financing through the bankruptcy proceedings. And in Europe, dockless scooter startup Tier recently laid off 22% of its workforce, which followed Dutch e-bike startup VanMoof’s bankruptcy proceedings.

Ava Patel
December 20, 2023

Enterprise, Fintech, Transportation

Yandex to be Delisted from US Exchanges, Alongside 4 Other Russian Tech Firms

Yandex and 4 other Russian tech firms to be delisted from Nasdaq and NYSE

Russia’s internet companies are to be formally delisted from U.S. stock exchanges, a sign that the world’s largest equity markets are tightening their grip on the Kremlin-funded entities despite public…