The energy firm’s stock fell below Nasdaq’s $1 minimum bid requirement, triggering a compliance warning.
New Fortress Energy disclosed it received a delisting notice from Nasdaq after its stock closed below $1 for 30 consecutive trading days. The company now has 180 days to regain compliance with the exchange’s minimum bid price rule.
Nasdaq’s listing standards require stocks to maintain a minimum $1 bid price. New Fortress Energy’s shares have traded below that threshold since mid-July, reflecting broader pressure on small-cap energy stocks amid volatile commodity prices.
The company may appeal or implement a reverse stock split to meet the requirement. No immediate market reaction was reported following the announcement.