Why Is Gamer Pakistan (GPAK) Stock Down 43% Today?

Gamer Pakistan (NASDAQ:GPAK) stock is down on Friday after the esports company announced its shares will be delisted from the Nasdaq Exchange. A news release from Gamer Pakistan notes that its request to remain listed on the exchange has been denied by the Nasdaq Hearings Panel. This is due to it not being compliant with the $1 minimum bid price required to remain on the exchange. Gamer Pakistan CEO James Knopf said the following about the news. “While we are disappointed in the Nasdaq delisting, this does not deter us from our long-term strategy of executing our business plan and creating stockholder value.” What This Means for GPAK Stock With this news, shares of GPAK stock will stop trading when markets open on Monday. The company says that it expects its shares to move to the OTC Markets Group platform once they are delisted from the Nasdaq. Gamer Pakistan intends to apply to the OTCQB Market or other OTC markets soon. It also expects its shares to retain the GPAK stock ticker when they make the switch. GPAK stock is down 43.3% as of Friday morning. That comes with roughly 558,000 shares traded. This is still below its daily average trading volume of about 1.1 million shares. Investors will want to stick around for more of the most recent stock market stories today! We have all of the hottest stock market news that traders are going to want to know about on Friday! A few examples include what’s happening with shares of Akanda (NASDAQ:AKAN) and VSee Health (NASDAQ:VSEE) stock, as well as the biggest pre-market stock movers this morning! You can check out all of that at the links below! More Friday Stock Market News Why Is Akanda (AKAN) Stock Up 34% Today? Why Is VSee Health (VSEE) Stock Up 172% Today? Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.