03:08 PM EDT, 10/16/2024 (MT Newswires) -- ShiftPixy ( PIXY ) said Wednesday it received a notification from the Nasdaq exchange stating that it no longer meets the minimum requirement of 500,000 publicly held shares for continued listing on the exchange.

Noncompliance with the minimum requirement of 500,000 shares serves as an additional basis for delisting, the company said in a filing with the Securities and Exchange Commission.

The company will need to respond to the Nasdaq Hearings Panel on Thursday or the panel will make its decision based on the current record, ShiftPixy ( PIXY ) said.

Shares of the company were down nearly 17% in recent trading.

Price: 5.65, Change: -1.15, Percent Change: -16.91