Graphjet Technology Stock (GTI) Dives 35% as Delisting Looms

Graphjet Technology (GTI) stock dropped on Wednesday after the graphene and graphite raw materials company revealed a delisting warning from the Listing Qualifications Department of the Nasdaq. The exchange has determined that the company didn't provide a clear plan to fix compliance issues.
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Graphjet Technology has failed to file its annual and quarterly reports for the periods ended Sept. 30, 2024, and Dec. 31, 2024. The Nasdaq's Listing Qualifications Department has determined it will suspend the company's shares when markets open on June 13 and will delist them from the exchange.
Graphjet Technology has the right to request an appeal of this decision and intends to do so. This could extend the time it has before a possible delisting, but there's no guarantee that this will be the case.
GTI Stock Movement Today
down 35.33% in pre-market trading, extending a 90.35% drop year-to-date and a 98.5% fall over the past 12 months.

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