Shares of TripAdvisor parent Liberty TripAdvisor Holdings were trading lower in Thursday’s after-hours market, following news the stock would be delisted from Nasdaq and transition to the OTC Markets Group.
The company’s Series A shares recently fell 33% to trade at 30 cents.
The company said it received notice from Nasdaq that trading in its Class A and Class B shares would be suspended at the start of business on Oct. 30 after failure to regain compliance with the exchange’s minimum bid price requirement.
Liberty TripAdvisor said it considered alternatives and “believes that transitioning to The OTC Markets Group, Inc. is the best course of action given recurring instances of noncompliance with Nasdaq listing requirements.”
OTC has approved the quotation of its stock on the OTCQB Venture Market, Liberty TripAdvisor said.