Nasdaq tips

Buoyed by the strong recovery in India’s domestic travel demand, online travel company Yatra.com plans to launch its Indian initial public offering by March next year.

Sonder disclosed in a financial filing Friday that it received a Nasdaq notice that it is not complying with the stock exchange’s listing rules and faces a potential delisting because the company hasn’t filed its annual 10-K report for 2023.

Just more than a month after luxury hospitality brand Inspirato executed a reverse stock split to meet Nasdaq listing requirements, the company said Friday it received a Nasdaq notice on November 27 that its market cap fell below the $15 million stock exchange minimum for the 30 days that ended a week earlier.

Property manager Sonder, received a notice of delisting from Nasdaq because the company failed to satisfy the minimum bid price listing rule as its common stock traded below $1.00 per share for 30 consecutive business days. 

Vacation rental property manager Vacasa received a notice of delisting from Nasdaq because the company failed to satisfy the minimum bid price listing rule as its common stock traded below $1.00 per share for 30 consecutive business days. 

After receiving a notice from Nasdaq in April that its shares could be delisted because their price had dipped below $1 per share for 30 trading days in a row, Sonder announced it is asking shareholders to approve a reverse stock split.

Sonder shareholders will vote in a special meeting September 15 on whether to give the board approval to carry out a reverse stock split — with the split ratio subject to the board’s discretion.