The radio company’s shares haven’t closed above $1 per share since July 2022.
The New York Stock Exchange has notified radio and podcast giant Audacy of its plan to delist the company’s Class A common stock from the exchange over its consistently low share price, Audacy announced Tuesday .
The NYSE has applied to the Securities and Exchange Commission to delist Audacy’s stock. While that process plays out, trading in the company’s common stock on the exchange will be suspended, though it can still be traded over the counter. Field also stated that the company is confident it “will benefit from a general market recovery and will be able to capitalize on our investments in strategic transformation that position Audacy well for the future.”
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