Digital media outlet BuzzFeed is at risk of being delisted from Nasdaq due to its stock’s poor performance. The company received a notice from Nasdaq on May 31 stating that its stock had been trading below the minimum threshold of $1 for the previous 30 business days. BuzzFeed has until November 27 to increase its stock price or face being removed from the exchange. According to reports, the firm’s market cap has dwindled to under $100m and it has struggled since it went public via a SPAC last year. BuzzFeed has been doubling down on AI and creator efforts to regain momentum, particularly by publishing quizzes powered by artificial intelligence. Its revenue in Q1 2021 was $67.2m.
BuzzFeed Faces Potential Removal from Nasdaq Due to Poor Stock Performance
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