0.2888
price up icon2.05%   +0.0058
after-market  After Hours:  .2833  -0.0055   -1.90%
loading

Why is Volcon Inc (VLCN) Stock down?

We've noticed a 15.62% decline in Volcon Inc (VLCN) stock during the 2024-05-16 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
27 Dec, 2023:

Volcon, Inc. (VLCN) stock dropped by 13.57% due to the announcement that Volcon got deficiency letter from Nasdaq that the company did not meet minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2). Nasdaq has specific listing requirements that companies must meet to remain listed on the exchange. One of these requirements is the minimum bid price, as outlined in Nasdaq Listing Rule 5550(a)(2). This rule stipulates that a company's stock price must maintain a minimum bid price for a certain period. If a company's stock fails to meet this requirement, Nasdaq issues a deficiency letter as a warning.

  • In the case of Volcon, receiving a deficiency letter indicates that the company's stock price fell below the minimum bid price required by Nasdaq. This can raise concerns among investors and may lead to a sell-off of the stock.
  • Companies that receive deficiency letters typically have a grace period during which they can take corrective actions to regain compliance with Nasdaq's listing requirements. This may involve implementing strategies to increase the stock price or considering a reverse stock split, among other measures.
  • If the company fails to regain compliance within the specified grace period, it could face delisting from the Nasdaq exchange, which can further erode investor confidence and negatively impact the stock price. Investor sentiment often reacts negatively to news of a deficiency letter from a major exchange like Nasdaq because it raises uncertainties about the company's ability to maintain its listing and meet regulatory standards.
16 Nov, 2023:

Volcon Inc Stock (VLCN) dropped by 64.52% from $0.65 to $0.23 in the trading on Thursday November 16, 2023. The reasons why VLCN stock down today is due to the announcement of public offering. The company announced it is raising approximately $18 million through a public offering. Volcon is selling Common Units or Pre-funded Units, which consist of stock or pre-funded warrants, along with warrants at set prices and expiration dates. These funds will be used for general corporate purposes. The offering's completion depends on standard conditions, with an option for additional shares to cover potential over-allotments.

auto_manufacturers NIO
$5.28
price up icon 0.38%
auto_manufacturers VFS
$4.88
price up icon 10.41%
auto_manufacturers LI
$24.89
price down icon 1.19%
auto_manufacturers F
$12.28
price down icon 0.81%
auto_manufacturers GM
$45.76
price down icon 0.24%
auto_manufacturers HMC
$33.24
price up icon 1.28%
Cap:     |  Volume (24h):