Carver Bancorp plunges after unveiling move to delist from Nasdaq

Carver Bancorp

19/11/2025 12:52

** U.S. lender Carver Bancorp's CARV.O shares plunge 47% to $1.59 premarket

** Late Tuesday, CARV announced it plans to voluntarily delist from Nasdaq and list on OTCQX, where more than 300 banks currently trade

** CARV will also deregister with the Securities and Exchange Commission, freeing it from the obligation to file periodic reports

** Move will help CARV cut recurring operating expenses and give it flexibility to pursue growth initiatives

** "The company's financial and other metrics fit in well as an OTC traded company, and the OTC provides the company with greater flexibility to pursue initiatives," CEO Donald Felix says

** As of last close, CARV shares up 63.6% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))