Bird said on Friday that its stock is being delisted from the New York Stock Exchange because of its inability to lift its market cap to $15 million.Bird, which went public in 2021 through a special purpose acquisition company, has lost 80% of its value this year.
, a provider of electric scooters that consumers can rent in cities, said the New York Stock Exchange will suspend trading of its stock after the company failed to keep its market capitalization above $15 million for 30 consecutive days.statementElectric scooter and bike rentals became a trendy alternative to public transit and ride sharing prior to the pandemic, when venture capitalists were pumping money into all sorts of growth areas regardless of how unprofitable they were.
The stock lost 80% of its value this year, closing on Friday at 90 cents and giving it a market cap of $11.6 million. That's after a