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Argo blockchain suspends trading on NASDAQ due to upcoming announcement

Published 12/27/2022, 02:45 PM
Updated 12/27/2022, 04:20 PM

Bitcoin mining firm Argo blockchain has suspended trading of its American depositary shares (ADS) on NASDAQ, according to a Dec. 27 press release. The company says that it needed to suspend trading because of an announcement that will come on Wednesday morning and because the London Stock Exchange is closed on Tuesday. Argo says that it expects shares to resume NASDAQ trading on Wednesday.

The statement comes after the company has been plagued with financial problems and faced bankruptcy rumors due to rising energy costs and falling Bitcoin prices.

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