Summary by Futu AI
On March 13, 2024, Bakkt Holdings, Inc. received a notification from the New York Stock Exchange (NYSE) indicating that the company is not in compliance with the NYSE's continued listing standards. Specifically, Bakkt's Class A common stock's average closing price was below the required $1.00 per share over a consecutive 30 trading-day period. Bakkt has a six-month period to regain compliance, during which its stock will remain listed on the NYSE. The company is exploring various options to address the issue, including a potential reverse stock split, pending shareholder approval. Bakkt issued a press release on the same day to inform the public and its investors about the situation and its intentions to remedy the noncompliance.