Phoenix Motor Inc. has announced that it received a determination letter from The Nasdaq Stock Market LLC, denying its request to continue listing on Nasdaq. The company's common stock, now delisted, is currently quoted on the OTC Pink Market under the symbol "PEVM." This decision follows previous notifications regarding non-compliance with Nasdaq's periodic filing, bid price, and shareholder meeting rules. Trading of Phoenix Motor Inc.'s stock on Nasdaq was suspended on April 15, 2025, and the company's appeal for an exception was denied. The company has 15 days to request a review of the decision, but the delisting may result in a limited trading market for its shares and potentially impact their trading price.
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