Mining company Argo Blockchain faces delisting from Nasdaq due to continued slumping stock price

PANews reported on July 30th that according to The Block, London-based Bitcoin mining company Argo Blockchain (NASDAQ: ARBK) received a delisting notice from Nasdaq due to its stock price consistently trading below $1. The company was given a 180-day "correction period" to improve its stock price, but failed to meet the requirement of a 30-day consecutive trading period above $1, triggering the delisting warning. ARBK's current share price is $0.31, down approximately 4% since the announcement. Argo has said it will request a hearing with the Nasdaq Hearings Panel, during which time its shares will continue to trade on the Nasdaq. The company has not announced plans to increase its share price or conduct a reverse stock split, and said there is no guarantee it can regain compliance or avoid delisting.