LogicMark (LGMK) stock sank on Monday after the company’s shares were moved to OTC Markets. This comes after it was delisted from the Nasdaq due to the shares being non-compliant with listing regulations. In LGMK stock’s case, the shares failed to maintain a price above the $1 minimum requirement.
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LogicMark intends to continue evaluating the various tiers available on OTC Markets and is also considering a potential return to a national exchange. CEO Chia-Lin Simmons noted the company had $15 million at the end of Q1, providing it with “further runway to advance our strategic priorities.”
LGMK stock was down 45.65% as of this writing. The shares have also dropped 99.23% year-to-date and 99.94% over the last 12 months.
Is LogicMark Stock a Buy, Sell, or Hold?
Wall Street’s coverage of LogicMark stock is thin. Instead, Spark, TipRanks’ AI analyst, rates LGMK shares at Neutral (42). It highlights weak financial performance and the stock’s recent delisting as concerns investors should note.
