The media company, led by CEO Jonah Peretti, has until Nov. 27 to bring up its stock price, according to an SEC filing.
has until Nov. 27, to improve the performance of its stock or risk getting delisted from Nasdaq, according to a Friday filing with the Securities Exchange Commission.
The media company received a notice from Nasdaq on Wednesday warning that for the past 30 business days, the bidding price for BuzzFeed’s common stock has closed below the $1-per-share minimum requirement to remain listed on the stock exchange. Should BuzzFeed fail to meet the Nov. 27 deadline, the company could potentially receive another 180-day extension if it can meet the “continued listing requirement for the market value of publicly held shares” and provide written notice of its “intention to cure the bid price deficiency” during this second period, among other requirements, the filing said. Failure to do so for this second period would result in BuzzFeed getting delisted from Nasdaq, though the company could appeal the decision.
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