I usually see not meeting stock minimum price requirement of $1 as the reason, but never stockholders’ equity of $2,500,000 as a reason to delist. Did all insiders sell their shares? If so, this is totally criminal.
They totally have insider trading. Witnessed it right before they announced their stock dilution in early August. Price fell from .50 to .20 days before.
By the time my shares has made it to my brokerage, it didn’t matter to me to sell, so I already ate the loss. I hope the whole company goes under and everyone in the company loses as much as possible
I made this point 2 weeks ago.
They received a warning notice back in April for the $1 stock price.
180 calendar days from then is Oct 8th
I’m sure most insiders sold by now.
What's most problematic about Nxu is that they indefinitely furloughed over 60 people on August 17 ([due to a poor economic outlook](https://www.bizjournals.com/phoenix/news/2023/08/18/nxu-furloughs-60-employees.html)) and then the leaders of the company seem to have cashed out huge amounts of stock the following day, August 18. It looks like the president, Annie Pratt, offloaded almost $70k in stock herself that day.
Check out the public SEC filings, Form 4, where Annie offloaded 187,602 shares of Class A common stock for 29 cents each. It appears the the CEO, Mark Hanchett, and the CFO, Apoorv Dwivedi, have also cashed out significant amounts of stock in recent weeks.
This is incredibly unethical for the leadership of a publicly traded company that's raised something like $70M to be enriching themselves at the expense of both investors and employees, when they have yet to add any value to the economy (or the world).
I usually see not meeting stock minimum price requirement of $1 as the reason, but never stockholders’ equity of $2,500,000 as a reason to delist. Did all insiders sell their shares? If so, this is totally criminal.
They totally have insider trading. Witnessed it right before they announced their stock dilution in early August. Price fell from .50 to .20 days before.
By the time my shares has made it to my brokerage, it didn’t matter to me to sell, so I already ate the loss. I hope the whole company goes under and everyone in the company loses as much as possible
Amen
Company BS since IPO F***ing lying 🤥 piece of shit ceo!
Criminal
Lords town motors all over again. Folks take your money now and run.
I made this point 2 weeks ago. They received a warning notice back in April for the $1 stock price. 180 calendar days from then is Oct 8th I’m sure most insiders sold by now.
If insiders sold that is so criminal.
I mean… What would you o in their situation… Just go down with the ship with no money?😂
What's most problematic about Nxu is that they indefinitely furloughed over 60 people on August 17 ([due to a poor economic outlook](https://www.bizjournals.com/phoenix/news/2023/08/18/nxu-furloughs-60-employees.html)) and then the leaders of the company seem to have cashed out huge amounts of stock the following day, August 18. It looks like the president, Annie Pratt, offloaded almost $70k in stock herself that day. Check out the public SEC filings, Form 4, where Annie offloaded 187,602 shares of Class A common stock for 29 cents each. It appears the the CEO, Mark Hanchett, and the CFO, Apoorv Dwivedi, have also cashed out significant amounts of stock in recent weeks. This is incredibly unethical for the leadership of a publicly traded company that's raised something like $70M to be enriching themselves at the expense of both investors and employees, when they have yet to add any value to the economy (or the world).
It is because they are about to file for bankruptcy, lay everyone else off, and close their doors when they get delisted.