Nasdaq Delisting Watchlist

The Nasdaq Delisting Watchlist is the Tapeboard radar for "about to be delisted" tickers. Nasdaq's continued-listing rule SR-NASDAQ-2026-004 requires each listed common stock to maintain a Market Value of Listed Securities (MVLS) of at least $5 million for 30 consecutive business days. Falling below that floor doesn't mean instant delisting — it triggers a 30-business-day clock. If MVLS doesn't recover above $5M before the clock expires, Nasdaq issues a delisting determination. The Watchlist shows you every ticker currently on that clock, with the days count, the recent MVLS trajectory, and the squeeze-score cross-reference.

What it is

A ranked table of every Nasdaq-listed common stock currently below $5M MVLS, sorted by consecutive days below the floor (most-imminent first). Each row shows ticker, exchange tier, MVLS in dollars, consecutive business days below $5M, days-to-trigger countdown (30 minus consecutive days), reverse-split history (last split date + cumulative 24-month ratio), squeeze-score cross-ref (from the Squeeze Leaderboard), and a 30-day MVLS sparkline showing the trajectory.

When to use it

• Risk screen: short-sellers and small-cap watchers — a sub-$5M MVLS ticker with a reverse-split in the last 12 months × high squeeze score is the textbook combination the StockTwits promo "watching this on the edge of a Nasdaq delisting" flags. Use it as a risk filter, not a buy/sell list.
• Post-reverse-split research: tickers that just did a reverse split are at peak delisting risk — the split is the company's "Hail Mary" above the floor; if MVLS doesn't hold post-split, the clock resets and restarts.
• Continuation-monitor: a ticker with status monitoring (MVLS $5M-$10M) showing a steady MVLS decline is approaching the floor — worth a watchlist entry.

Open it

• Path: /nasdaq-delisting-watchlist (in the SCREENERS sidebar group — DELISTING WATCH)
• Per-ticker delisting risk page: /nasdaq-delisting-watchlist/:ticker (lowercase) — only generated for names with status = on_clock or approaching_trigger
• Public API: GET /api/nasdaq-delisting/watchlist (returns rows + stats: on_clock, approaching_trigger, total)

Status badges

Data sources

• Universe: Nasdaq's nightly-published nasdaqlisted.txt (~5500 ticker rows), filtered to common-stock + non-ETF + non-test issues.
• MVLS: Webull per-ticker market_value field (proxied via the Webull Proxy URL + Token secrets on workers-api). This is price × listed shares from the live Webull quote — identical to Nasdaq's MVLS computation (no synthesis).
• Reverse-split 8-K: SEC EDGAR full-text search per CIK for reverse split, last 12 and 24 months.
• Refresh cadence: nightly at 03:30 UTC (nasdaq-delisting-refresh cron — see workers-api cron/registry.ts). Runs in Cloudflare's extended scheduled() CPU budget — the full universe scan + per-candidate SEC EDGAR work is ~5-7 minutes wall-clock; the HTTP trigger path (/api/ops/trigger-cron?job=nasdaq-delisting-refresh) can't complete that in Cloudflare's 30s waitUntil cap, so the scheduled path is the natural ingestion route.
• Squeeze cross-ref: tickers in the watchlist that also appear on the Squeeze Leaderboard carry their squeeze_scores.score as a squeeze_score column — the squeeze-score write-back happens in the same cron pass.

Per-ticker delisting risk page

Click any ticker or visit /nasdaq-delisting-watchlist/:ticker (lowercase symbol). The page shows:

• MVLS sparkline (30-day trajectory; a reset-event marks a close ≥ $5M that zeroed the counter — the sawtooth the sparkline annotates)
• Reverse-split history (last split date + cumulative 24-month ratio; one or two recent splits × a sub-$5M MVLS clock is the textbook setup)
• Squeeze cross-reference (the squeeze score and ignition flag, IF the ticker is on the squeeze leaderboard)
• Days to trigger countdown to the delisting determination
• 30-business-day clock — the consecutive days below count × days remaining

Cross-reference: squeeze setup

When a delisting-watchlist ticker is ALSO on the Squeeze Leaderboard (/manual/short-squeeze), the row's squeeze_score column carries the actual score. A sub-$5M MVLS ticker with a 90/100 squeeze score is at peak squeeze risk (the shorts are betting on the bankruptcy) AND at peak delisting risk (the company's MVLS can't carry the listing). It can go either way — short squeeze OR delisting — but either way it's a name worth knowing about.

Pro tips

1. Don't short the on_clock names with high SI — they're the textbook squeeze setup, even if delisting is the more likely outcome. Borrow is unavailable; if a piece of news lifts the stock a dollar, you'll be forced to cover at a price that doesn't exist.
2. Watch the reverse-split history — one or two recent splits × a continued clock = a "Hail Mary" company. The reverse split was their bid to push MVLS above $5M; if it didn't work, the clock resets and starts counting again.
3. Use this as a RISK filter, not a watchlist — these are the names a long-bias portfolio should mark as exposed (a position taken here can become untradeable after a halt or delist).

Roadmap

• Email + push alerts when a ticker crosses into on_clock or its days_to_trigger falls below 5 — currently you have to refresh the page.
• Tighter cross-ref to the Halts surface (a halt-resume overnight often presages a delisting-determination news cycle).
• Per-ticker comparison: same-issuer delisting cases with similar MVLS trajectories.

Related

• Short Squeeze Scanner — delisting risk × SI risk = peak-risk setups
• Scanner — the live scanner with the halt-resume preset (the on-clock names that flash into a halt)
• Insider Screener — recent insider buying in a near-delisting ticker is often a "the board is buying ahead of news" tell
• Research — the per-ticker page carries the delisting badge in its right rail