Vintage Wine Estates Warned of Nasdaq Delisting

Vintage Wine Estates has been warned it faces delisting from the Nasdaq Stock Exchange because it's shares have been priced under $1 for 30 consecutive days. As of the market close on Thursday, VWE shares were trading at 68 cents each.

The company, which recently appointed Seth Kaufman, chairman/CEO or Moet Hennessy North America for four years as its new  CEO,  has cut the number of brands, staff and vineyards, all to reduce costs and debt, has until March 11, 2024, to see its stock trade above $1 for at least 10 trading days.

If that doesn't happen, companies in similar situations often do a reverse stock split, which reduces the number of shares and increases earnings per share.

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