Are Lion Electric Shares Safe Amid NYSE Delisting Moves?

2 min read | November 20, 2024 11:57 AM PST | By Team Kalkine Media

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Are Lion Electric Shares Safe Amid NYSE Delisting Moves? — Image source: Shutterstock

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Highlights

The Lion Electric Company announced NYSE delisting of certain warrants.

Trading for shares and specific warrants will continue on the NYSE.

Shares of The Lion Electric Company, ticker T.LEV, saw a decrease.

The Lion Electric Company (TSX:LEV) operates within the electric vehicle manufacturing sector, focusing on the production of zero-emission vehicles and advanced energy storage systems. The company recently disclosed a regulatory development affecting its financial instruments on the New York Stock Exchange (NYSE).

NYSE Delisting Decision

The NYSE Regulation staff has initiated a process to delist the company’s warrants bearing the ticker symbol LEV.WS, which are set to expire in a few years. This decision resulted in the immediate suspension of trading for these warrants on the exchange.

Unchanged Trading for Other Securities

The Lion Electric Company's other securities, including its common shares (ticker symbol LEV) and another series of warrants with a later expiration date (LEV.WS.A), remain active on the NYSE. These securities continue to be available for market transactions without disruption.

Impact on Share Performance

Following the announcement, The Lion Electric Company shares, listed under T.LEV on the exchange, recorded a decline in value. This development aligns with market responses typically observed in similar situations involving delisting announcements.

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