Bakkt receives delisting warning from New York Stock Exchange as stock price continues to fall below $1

Bakkt is at risk of being delisted from the New York Stock Exchange (NYSE) as its share price fell below the $1 threshold. Bakkt is a cryptocurrency platform created and two-thirds owned by Intercontinental Exchange (ICE). Bakkt announced in a document on Wednesday that the New York Stock Exchange issued a notice stating that "the company does not comply with the provisions of Section 802.1C of the New York Stock Exchange Listed Company Manual. Because as of March 12, 2024, the average closing price of the company's Class A common stock The price is less than $1.00 per share for a 30-day trading period. This notification will not immediately result in the delisting of its common shares from the New York Stock Exchange." On March 13, Bakkt notified the New York Stock Exchange of its intention to address its share price of less than $1 and return to compliance with the NYSE’s continued listing standards. Bakkt shares closed at $0.5978 on Wednesday, giving it a market capitalization of just $80 million, well below the $40 per share it traded at in October 2021. (The Block)