- Charles & Colvard (CTHR, Financial) to be delisted from Nasdaq due to non-compliance with financial reporting requirements.
- Trading suspension is set for April 25, 2025, with expectations to trade on the OTC Experts Market.
- The company will not appeal the delisting decision, citing potential cost savings.
Charles & Colvard, Ltd. (CTHR) has announced its impending delisting from Nasdaq following a staff determination letter citing non-compliance with Listing Rule 5250(c)(1). The company failed to timely file its Forms 10-Q for the quarters ending September 30 and December 31, 2024. As a result, trading of CTHR stock will be suspended starting April 25, 2025.
The company has decided against appealing this determination, opting instead to focus on potential cost savings from eliminating the expenses associated with maintaining a Nasdaq listing. Charles & Colvard expects its common stock to be quoted on the OTC Experts Market once delisted, although there is no guarantee that trading liquidity will be maintained in the over-the-counter market.
Charles & Colvard is a renowned name in the fine jewelry industry, known for its ethically produced lab-grown moissanite and diamonds. Founded in 1995, the company is based in North Carolina's Research Triangle Park and is committed to sustainability by using 100% recycled precious metals in its products.
Investors should note that while Charles & Colvard aims for potential cost reductions, moving to the OTC market may affect trading liquidity, and there is no assurance of maintaining an active trading market for its stocks. The company continues to focus on its strategic plans, despite the delisting.
