John SchroyerCannabis marketing company SpringBig Holdings Inc. (NASDAQ: SBIG) announced late last week that it will be removed from the Nasdaq, but it will continue trading on over-the-counter markets.
Effective Wednesday, SpringBig began trading on the OTCQX markets under the symbols SBIG and SBIGW, the company reported in a press release. The change was due to noncompliance with minimum market value requirements and minimum bid prices by the Nasdaq.
“The company has not been able to evidence compliance within the extended time period granted by the Nasdaq Hearings Panel on May 8, 2023,” SpringBig stated in a release. “The company expects that the Nasdaq will file a Form 25 relating to delisting” as of yesterday.
Although SpringBig had reported an upswing in its fortunes as of the most recent quarter, the marketing firm also posted a $2 million loss in Q2 alone and a $2.3 million loss in Q1.
