American Rebel Holdings (NASDAQ:AREB) shares fell sharply in after-hours trading on Tuesday after the company said Nasdaq will delist its securities over continued non-compliance with the exchange’s minimum bid-price requirement.
American Rebel shares dropped 29.80% to $0.090 in after-hours trading on Tuesday after closing the regular session down 19.72% at $0.13, according to Benzinga Pro data.
Nasdaq Delisting Drives Sell-Off
American Rebel said a Nasdaq Hearings Panel determined the company failed to regain compliance with Nasdaq’s $1.00 minimum bid-price rule. Trading of the company’s securities on Nasdaq is expected to be suspended at the open of trading on May 13.
The company said it plans to transition to OTC Markets, initially targeting OTCID quotation before seeking eligibility for OTCQB. American Rebel also said it intends to remain a fully reporting SEC registrant.
American Rebel Holdings Inc. is a Nashville-based company that …
