CTI Industries Corp: Plunges after co gets delisting notice from Nasdaq

Yunhong Green Cti

07/01/2020 14:09

** Balloon maker's shares  CTIB.O  down ~16.5% at $2.17
premarket after co gets notice from Nasdaq regarding failure to
satisfy listing standards
    ** CITB is the 2nd biggest pct loser among U.S. stocks
before the bell
    ** Notice indicates CITB failed to hold an annual meeting of
stockholders within the required twelve month period, co says in
a filing https://www.sec.gov/Archives/edgar/data/1042187/000143774920000249/ctib20200106_8k.htm
    ** Company has been provided with 45 days to submit a plan
to regain compliance 
    ** Shares tripled in value on Monday after CITB announced
plans to divest its Mexico unit for ~$4 mln
    ** Stock had plunged 73% in 2019

 (Reporting by Abhishek Manikandan in Bengaluru)
 ((Abhishek.Manikandan@thomsonreuters.com))