Several companies that could be considered penny stocks have recently received delisting warnings or have voluntarily delisted from major exchanges, often due to factors such as low share price, failure to meet listing requirements, or non-compliance with regulatory filings. Delisting from a major exchange frequently results in the stock trading on over-the-counter (OTC) markets, where many "penny stocks" (generally defined as stocks trading under $5.00) are found.
Here are some companies that have recently faced delisting warnings or actions:
- Palatin Technologies, Inc. (PTN): Received a delisting notice from NYSE American in May 2025 due to its low selling price. The company's common stock has since transitioned to the OTC Pink Market, though Palatin intends to appeal the decision.1
- MMTEC, Inc. (MTC): In October 2025, MMTEC received a delisting determination letter from Nasdaq for failing to maintain the minimum $1.00 bid price requirement. Due to a recent reverse stock split, the company is not eligible for the standard compliance period.2
- Movano Inc. (MOVE): In July 2025, Movano received a delisting notice from Nasdaq for failing to meet the $1.00 bid price requirement for 30 consecutive trading days. The company is not eligible for a compliance period due to a reverse stock split within the prior year and plans to request an extended stay.3
- Triller Group Inc. In October and November 2025, Triller Group received multiple delisting determination letters from Nasdaq. These were primarily due to non-compliance with filing requirements, specifically the failure to timely file its Form 10-K for the year ended December 31, 2024, and its Forms 10-Q for the periods ended March 31, 2025, June 30, 2025, and September 30, 2025.4
- Polyrizon Ltd. (PLRZ): In May 2025, Polyrizon received a delisting notification from Nasdaq based on discretionary authority. Nasdaq's staff determined that a recent securities issuance, which included Series A warrants exercisable on an alternate cashless basis, raised public interest concerns due to substantial dilution for shareholders.5
- Titan Pharmaceuticals Inc. As of March 2025, Titan Pharmaceuticals received a notice from Nasdaq regarding non-compliance with the requirement to hold an annual shareholder meeting. The company also highlighted the risk of delisting if it cannot maintain compliance with Nasdaq's listing standards, including the $1.00 minimum bid price and minimum stockholders' equity. If delisted and trading on the over-the-counter market at a price below $5.00 per share, its common stock would be considered a "penny stock."6
- Healthcare Triangle Inc. In May 2025, Healthcare Triangle Inc. received a notice of delisting from Nasdaq due to its failure to maintain a minimum bid price for its securities.7
- ContextLogic Inc. (LOGC): In May 2025, ContextLogic Inc. voluntarily delisted its common stock from The Nasdaq Global Market and began trading on the OTCQB Venture Market of the OTC Markets. This followed a notification from Nasdaq that the company was believed to be a "public shell," which is a basis for delisting.8
- Glen Burnie Bancorp: In December 2025, the company's Board of Directors approved a plan to voluntarily delist its common stock from Nasdaq, with an intention to transition to the OTCQX market.9
- Old Market Capital Corporation: In December 2025, Old Market Capital Corporation's Board of Directors approved a plan to voluntarily delist from the NASDAQ Capital Market and transition to the OTC Markets Exchange.10
- Opthea Limited (OPT): In October 2025, Opthea Limited announced its intention to voluntarily delist its American Depositary Shares (ADSs) from Nasdaq to streamline operations and focus on its Australian Securities Exchange (ASX) listing, citing the significant cost and regulatory demands of maintaining a dual listing. The company intends to maintain its American Depositary Receipt (ADR) program to facilitate continued trading on the U.S. Over-The-Counter (OTC) market.11
- Four Leaf Acquisition Corp. This company received multiple notices from Nasdaq in April 2025 concerning non-compliance with rules regarding the market value of listed securities, timely filing of periodic reports, and unpaid fees, leading to a delisting letter. The company has appealed these determinations.12
These examples illustrate that delisting warnings for penny stocks or companies at risk of becoming penny stocks often stem from a combination of low share price, failure to meet financial or corporate governance requirements, or a strategic decision to move to an OTC market. Investors should be aware that delisting can significantly impact a stock's liquidity and visibility.13
