LAFAYETTE — Waitr is at risk of being removed from the NASDAQ stock exchange because its stock is selling below $1.00 per share.
According to Securities and Exchange Commission documents filed Wednesday, NASDAQ could drop Waitr (WTRH) from its listings if the company does not close at or above $1.00 for 10 straight days before June 1. NASDAQ says Waitr is actively taking steps to meet its requirements.
The documents say NASDAQ notified Waitr officials of the news on Monday.
Waitr's stock has been below the $1.00 mark for more than a month. As the end of the December 4 trading day, Waitr's stock was valued at $0.52. On November 13th, the food delivery service's stock dropped to a 12-month low of $0.21 before closing at $0.24 that day. In contrast, Waitr's stock sold for $11.81 on its first day of trading--November 16, 2018. Its stock reached its peak on March 13, when the stock closed at $14.77 a share.
Under NASDAQ's rules, Waitr could receive an extension to pull its stock prices up if it meets other requirements. To read the full filing from NASDAQ with the SEC, click here.