Bird Global Stock Plummets, Delisted from NYSE
Electric scooter company Bird will be delisted from the New York Stock Exchange (NYSE) after its stock collapsed, failing to maintain a market capitalization above $15 million for 30 consecutive days. The company's shares will now trade on the over-the-counter exchange. Bird, once valued at $2.5 billion, faced significant challenges during the pandemic as cities went into lockdown. Despite a recent acquisition and a reverse stock split, the stock lost 80% of its value this year, closing at 90 cents. Bird's interim CEO expressed disappointment but emphasized the company's commitment to shareholders, employees, and partners.