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An update from FiscalNote Holdings ( (NOTE) ) is now available.
On March 25, 2026, FiscalNote Holdings disclosed that the New York Stock Exchange has begun delisting proceedings after the company’s Class A common stock failed to meet the exchange’s $1.00 minimum average closing price over 30 trading days, triggering an immediate suspension of trading in its shares and warrants. The securities are expected to move to the OTC Markets on March 26, 2026, while the company evaluates a possible appeal, maintains its SEC reporting, and pushes ahead with a cost-cutting overhaul, platform migration to PolicyNote, AI data integrations with major model providers, and new political prediction products, all under an ongoing strategic review that could include further divestitures.
The delisting notice comes as FiscalNote implements an organizational transformation, including a 25% workforce reduction and a 19% cut in cash operating costs to bolster margins and strengthen its operating model. Having completed the transition of customers off its legacy platform in 2025 and seeing early gains in user engagement and retention on PolicyNote, the company is now looking to monetize its regulatory data through APIs and AI partnerships, while its board and advisors review strategic options aimed at maximizing shareholder value, against the backdrop of its shift from a major exchange to over-the-counter trading.
The most recent analyst rating on (NOTE) stock is a Hold with a $0.51 price target. To see the full list of analyst forecasts on FiscalNote Holdings stock, see the NOTE Stock Forecast page.
Spark’s Take on NOTE Stock
According to Spark, TipRanks’ AI Analyst, NOTE is a Neutral.
The score is held down primarily by weak financial performance (persistent negative operating/free cash flow and a sharp profitability deterioration in 2025) and bearish technical signals (below major moving averages with negative MACD). The earnings call offers some offset via better-than-guidance adjusted EBITDA and improved corporate sales momentum, but ARR decline and revenue headwinds limit the uplift; valuation provides little support given a negative P/E and no dividend yield.
To see Spark’s full report on NOTE stock, click here.
More about FiscalNote Holdings
FiscalNote Holdings, Inc., based in Washington, D.C., is a global provider of AI-driven policy and regulatory intelligence solutions for governments, corporations, and advocacy groups. Through its flagship PolicyNote platform and related tools such as CQ, Roll Call, and VoterVoice, the company focuses on legislative tracking, regulatory analysis, and stakeholder engagement to help clients monitor and influence public policy.
Average Trading Volume: 653,802
Technical Sentiment Signal: Sell
Current Market Cap: $8.34M
For detailed information about NOTE stock, go to TipRanks’ Stock Analysis page.