By Ben Glickman
The New York Stock Exchange has begun proceedings to delist shares of Bird Global.
Trading of Bird’s common shares and warrants will be suspended immediately.
NYSE said Friday that Bird’s market capitalization had fallen below the 30-day average of at least $15 million.
Bird said it intended to appeal the decision and its current market value isn’t reflective of the value of the company. Shares will continue trading on NYSE if the appeal is successful, and the shares will continue to be listed in the interim.
Bird said it intended to trade its shares on the OTC exchange next week in light of its shares being suspended.
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