The New York Stock Exchange has issued a delisting warning to peer-to-peer car rental company Getaround for trading too low.
Getaround went public in December after a merger with a special purpose acquisition company (SPAC). The stock of the combined company began trading at around $10 per share and quickly lost 65% of its value. Getaround’s stock is down 1.3% today, trading at $0.64. Getaround has six months to correct its stock price shortfall and return to compliance with the NYSE’s continued listing standards. The stock exchange issues such warnings to companies whose stock prices have fallen below $1 for 30 consecutive trading days.
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