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Nasdaq delisting watchlist: 198 stocks on the MVLS clock

// live watchlist · MVLS $5M floor · 30-consecutive-business-day clock · reverse-split trap detection

Tapeboard tracks every Nasdaq-listed company at risk of delisting under SR-NASDAQ-2026-004, the $5M Market Value of Listed Securities floor with a 30-consecutive-business-day trigger, cross-referenced with the SR-NASDAQ-2025-065 reverse-split restrictions that block the standard cure. Refreshed nightly, zero upstream fan-out at read time.

STATUS OF THE RULE — SEC STAY (2026-07-29)

The SEC approved Nasdaq's $5M MVLS rule (SR-NASDAQ-2026-004, Rel. 34-105971) on 2026-07-22, then STAYED that approval on 2026-07-29 under Rule 431(e) after petitions for Commission review (Cemtrex; Small Public Company Coalition). While stayed, Nasdaq cannot issue delisting determinations under this rule. The clocks below show where each ticker would stand if the rule were in force — a stress gauge, not an active regulatory process.

Open the live terminal Nasdaq penny stock screener SEC filings surface
§01 // WATCHLIST

283 tickers on the watchlist

#TICKERSTATUSMVLSBIDSHARESDAYS BELOWDAYS TO TRIGGERRS 12MO
1 RAYA PAST TRIGGER — STAYED $2.03M $1.9200 11.00M 35 -5 RS
2 EZGO PAST TRIGGER — STAYED $2.05M $0.8879 5.68M 35 -5 RS
3 GMEX PAST TRIGGER — STAYED $9.4K $0.4183 20.12M 33 -3 RS
4 AIXI PAST TRIGGER — STAYED $274.9K $2.0900 55.24M 33 -3 RS
5 FGL PAST TRIGGER — STAYED $347.6K $4.6000 - 33 -3 RS
6 FRGT PAST TRIGGER — STAYED $387.4K $0.6302 1.66M 33 -3 RS
7 SUGP PAST TRIGGER — STAYED $703.6K $0.4938 13.85M 33 -3 RS
8 BDRX PAST TRIGGER — STAYED $751.2K $0.7300 - 33 -3 RS
9 AFJKR PAST TRIGGER — STAYED $755.4K $0.1234 2.13M 33 -3 RS
10 YMT PAST TRIGGER — STAYED $953.1K $2.0000 - 33 -3 RS
11 NEXR PAST TRIGGER — STAYED $953.3K $1.7100 250.7K 33 -3 RS
12 RKDA PAST TRIGGER — STAYED $1.09M $0.4540 2.18M 33 -3 RS
13 SCNI PAST TRIGGER — STAYED $1.10M $1.5600 13.87B 33 -3 RS
14 MYSZ PAST TRIGGER — STAYED $1.27M $1.7500 602.3K 33 -3 RS
15 XXII PAST TRIGGER — STAYED $1.28M $1.7900 502.8K 33 -3 RS
16 SXTC PAST TRIGGER — STAYED $1.28M $2.4000 3.91M 33 -3 RS
17 MSS PAST TRIGGER — STAYED $1.33M $1.5600 - 33 -3 RS
18 FCHL PAST TRIGGER — STAYED $1.38M $1.0500 37.8K 33 -3 RS
19 BBLG PAST TRIGGER — STAYED $1.43M $0.5190 1.81M 33 -3 RS
20 LRHC PAST TRIGGER — STAYED $1.46M $2.5600 2.03M 33 -3 RS
21 MNDR PAST TRIGGER — STAYED $1.53M $1.2800 - 33 -3 RS
22 QETAR PAST TRIGGER — STAYED $1.54M $0.4101 2.05M 33 -3 RS
23 LNKS PAST TRIGGER — STAYED $1.61M $1.0000 - 33 -3 RS
24 IPW PAST TRIGGER — STAYED $1.62M $1.6900 1.77M 33 -3 RS
25 GNLN PAST TRIGGER — STAYED $1.65M $2.3700 - 33 -3 RS
26 YHC PAST TRIGGER — STAYED $1.67M $1.2800 215.3K 33 -3 RS
27 CMND PAST TRIGGER — STAYED $1.71M $0.7994 - 33 -3 RS
28 NIVF PAST TRIGGER — STAYED $1.73M $0.7191 240.6K 33 -3 RS
29 AKAN PAST TRIGGER — STAYED $1.74M $3.2200 - 33 -3 RS
30 HAO PAST TRIGGER — STAYED $1.75M $2.8700 - 33 -3 RS
31 IMTE PAST TRIGGER — STAYED $1.76M $0.5120 - 33 -3 RS
32 DCOY PAST TRIGGER — STAYED $1.82M $2.7800 532.0K 33 -3 RS
33 PMAX PAST TRIGGER — STAYED $1.88M $0.9568 - 33 -3 RS
34 CISS PAST TRIGGER — STAYED $1.92M $1.2900 659.7K 33 -3 RS
35 GCTK PAST TRIGGER — STAYED $1.97M $2.4700 6.26M 33 -3 RS
36 SHFS PAST TRIGGER — STAYED $2.00M $0.1625 12.33M 33 -3 RS
37 ONFO PAST TRIGGER — STAYED $2.01M $0.8212 150.5K 33 -3 RS
38 RUBI PAST TRIGGER — STAYED $2.04M $1.1400 385.5K 33 -3 RS
39 STKH PAST TRIGGER — STAYED $2.12M $1.9000 5.44B 33 -3 RS
40 GIPR PAST TRIGGER — STAYED $2.18M $0.7183 1.03M 33 -3 RS
41 CHGA PAST TRIGGER — STAYED $2.32M $2.0700 13.68M 33 -3 RS
42 ELPW PAST TRIGGER — STAYED $2.32M $2.4900 - 33 -3 RS
43 CIIT PAST TRIGGER — STAYED $2.34M $2.4200 3.62M 33 -3 RS
44 PPBT PAST TRIGGER — STAYED $2.34M $1.4400 - 33 -3 RS
45 PWCM PAST TRIGGER — STAYED $2.37M $0.9800 934.7K 33 -3 RS
46 IVF PAST TRIGGER — STAYED $2.43M $0.9700 2.30M 33 -3 RS
47 SLXN PAST TRIGGER — STAYED $2.51M $0.4355 1.18M 33 -3 RS
48 FLYE PAST TRIGGER — STAYED $2.61M $1.6000 1.63M 33 -3 RS
49 JEM PAST TRIGGER — STAYED $2.61M $3.8900 20.20M 33 -3 RS
50 IMCC PAST TRIGGER — STAYED $2.62M $4.2300 - 33 -3 RS
51 EDBL PAST TRIGGER — STAYED $2.67M $1.3700 525.6K 33 -3 RS
52 GNPX PAST TRIGGER — STAYED $2.83M $3.4500 506.2K 33 -3 RS
53 TNMG PAST TRIGGER — STAYED $2.94M $3.8700 - 33 -3 RS
54 HTCR PAST TRIGGER — STAYED $3.02M $1.9950 1.44M 33 -3 RS
55 IZM PAST TRIGGER — STAYED $3.03M $1.2600 11.00M 33 -3 RS
56 MKZR PAST TRIGGER — STAYED $3.09M $1.3700 2.16M 33 -3 RS
57 PRFX PAST TRIGGER — STAYED $3.10M $1.0200 830.6K 33 -3 RS
58 GVH PAST TRIGGER — STAYED $3.12M $1.2900 1.53M 33 -3 RS
59 LXEH PAST TRIGGER — STAYED $3.16M $1.6500 116.67M 33 -3 RS
60 RBNE PAST TRIGGER — STAYED $3.28M $2.4600 2.77M 33 -3 RS
61 YYAI PAST TRIGGER — STAYED $3.29M $0.7190 42.14M 33 -3 RS
62 SHPH PAST TRIGGER — STAYED $3.30M $3.2100 5.55M 33 -3 RS
63 RDGT PAST TRIGGER — STAYED $3.30M $0.9100 887.3K 33 -3 RS
64 SXTP PAST TRIGGER — STAYED $3.36M $0.9560 2.66M 33 -3 RS
65 XRTX PAST TRIGGER — STAYED $3.49M $1.9200 - 33 -3 RS
66 SBFM PAST TRIGGER — STAYED $3.49M $0.8998 2.39M 33 -3 RS
67 CHR PAST TRIGGER — STAYED $3.66M $1.5600 10.29M 33 -3 RS
68 REVB PAST TRIGGER — STAYED $3.71M $0.9304 3.91M 33 -3 RS
69 ICON PAST TRIGGER — STAYED $3.77M $1.0400 692.0K 33 -3 RS
70 CAPS PAST TRIGGER — STAYED $3.82M $0.1754 15.20M 33 -3 RS
71 CHSN PAST TRIGGER — STAYED $3.82M $1.0500 38.98M 33 -3 RS
72 MBIO PAST TRIGGER — STAYED $4.09M $0.5397 106.43M 33 -3 RS
73 ABTS PAST TRIGGER — STAYED $4.18M $1.3000 2.37M 33 -3 RS
74 IBG PAST TRIGGER — STAYED $4.26M $1.0100 347.0K 33 -3 RS
75 EZRA PAST TRIGGER — STAYED $4.40M $2.6200 820.9K 33 -3 RS
76 INBKZ PAST TRIGGER — STAYED $0 $25.1700 - 32 -2 RS
77 JAGX PAST TRIGGER — STAYED $933.7K $2.7100 17.48M 32 -2 RS
78 BUSEP PAST TRIGGER — STAYED $0 $25.9900 83.19M 31 -1 RS
79 RILYT PAST TRIGGER — STAYED $94.0K $20.6000 40.20M 31 -1 RS
80 SILO PAST TRIGGER — STAYED $3.23M $1.8400 1.13M 31 -1 RS
81 NUWE PAST TRIGGER — STAYED $3.27M $0.8970 574.5K 31 -1 RS
82 FMFC PAST TRIGGER — STAYED $3.82M $0.2090 - 30 0 RS
83 GSUN APPROACHING $2.41M $0.2400 19.09M 29 1 RS
84 CRIS APPROACHING $2.43M $1.0000 1.95M 29 1 RS
85 IPDN APPROACHING $2.25M $3.3800 12.83M 28 2 RS
86 WHLR APPROACHING $1.32M $0.2676 167.8K 26 4 RS
87 VSME APPROACHING $2.46M $0.8932 20.00M 26 4 RS
88 CSAI APPROACHING $2.80M $3.2300 - 26 4 RS
89 IVDA APPROACHING $4.01M $0.3200 12.52M 26 4 RS
90 HIHO APPROACHING $4.16M $0.8999 4.63M 26 4 RS
91 CPOP APPROACHING $3.86M $4.1100 - 25 5 RS
92 CETX ON CLOCK $3.49M $2.0300 1.26M 24 6 RS
93 PFSA ON CLOCK $1.16M $1.9100 132.3K 23 7 RS
94 BOXL ON CLOCK $2.95M $4.4200 - 23 7 RS
95 APVO ON CLOCK $3.33M $1.8400 1.42M 23 7 RS
96 PAVS ON CLOCK $3.54M $4.0700 12.10M 23 7 RS
97 OLOX ON CLOCK $1.71M $1.0300 1.32M 22 8 RS
98 ASPSZ ON CLOCK $1.87M $0.1700 11.42M 22 8 RS
99 NXTS ON CLOCK $1.90M $1.3100 1.45M 22 8 RS
100 ARTL ON CLOCK $2.16M $3.9400 673.0K 22 8 RS
101 ATPC ON CLOCK $2.23M $2.2300 1.00M 22 8 RS
102 NXGL ON CLOCK $2.59M $0.2658 9.70M 22 8 RS
103 ASPSW ON CLOCK $2.75M $0.2500 11.42M 22 8 RS
104 ONCO ON CLOCK $2.80M $0.6390 3.79M 22 8 RS
105 OCG ON CLOCK $2.89M $1.4900 149.0K 22 8 RS
106 PARA ON CLOCK $3.30M $0.9298 2.69M 22 8 RS
107 EJH ON CLOCK $4.10M $1.2800 4.00M 22 8 RS
108 ATXG ON CLOCK $4.12M $3.5000 1.03M 22 8 RS
109 LGHL ON CLOCK $364.5K $7.9000 17.40M 21 9 RS
110 LGCL ON CLOCK $1.05M $3.0600 79.47M 21 9 RS
111 LBGJ ON CLOCK $1.38M $1.9400 18.75M 21 9 RS
112 TCRT ON CLOCK $3.05M $1.2000 2.49M 21 9 RS
113 ISPC ON CLOCK $3.35M $1.3300 1.52M 21 9 RS
114 CDTG ON CLOCK $3.75M $1.2400 10.82M 21 9 RS
115 LCFY ON CLOCK $4.23M $2.3500 - 21 9 RS
116 MSGY ON CLOCK $4.41M $2.0800 16.96M 21 9 RS
117 HYFM ON CLOCK $4.58M $0.9497 4.81M 21 9 RS
118 CTNT ON CLOCK $149.1K $0.0472 3.16M 20 10 RS
119 INLF ON CLOCK $2.93M $2.6900 15.90M 20 10 RS
120 RIME ON CLOCK $3.65M $0.2150 15.67M 19 11 RS
121 ELAB ON CLOCK $3.87M $4.7800 6.15M 19 11 RS
122 DXST ON CLOCK $4.63M $2.5500 16.25M 19 11 RS
123 IPST ON CLOCK $1.99M $2.7600 514.2K 18 12 RS
124 KIDZ ON CLOCK $2.56M $2.9700 - 18 12 RS
125 AGMH ON CLOCK $3.97M $0.8275 - 17 13 RS
126 PPCB ON CLOCK $2.14M $0.6100 21.86M 16 14 RS
127 XAIR ON CLOCK $3.04M $3.0900 743.4K 16 14 RS
128 VVOS ON CLOCK $3.28M $0.1632 14.53M 16 14 RS
129 MASK ON CLOCK $3.44M $0.9286 - 16 14 RS
130 BTTC ON CLOCK $3.93M $0.3650 1 16 14 RS
131 INTJ ON CLOCK $4.09M $2.6600 1.50M 16 14 RS
132 CNEY ON CLOCK $4.51M $0.5500 20.32M 16 14 RS
133 GOVX ON CLOCK $3.61M $0.3569 7.37M 15 15 RS
134 JUNS ON CLOCK $3.77M $2.8600 664.7K 15 15 RS
135 SDST ON CLOCK $1.76M $0.1250 11.63M 14 16 RS
136 WETO ON CLOCK $1.82M $1.6900 22.00M 13 17 RS
137 RDHL ON CLOCK $3.46M $0.5683 - 13 17 RS
138 WLDS ON CLOCK $3.74M $1.5200 2.88M 13 17 RS
139 CVKD ON CLOCK $3.82M $1.0700 3.10M 13 17 RS
140 JTAI ON CLOCK $4.89M $1.3750 1.73M 13 17 RS
141 BRTX ON CLOCK $3.72M $2.6900 25.48M 12 18 RS
142 NXL ON CLOCK $4.06M $4.9000 22.00M 12 18 RS
143 FAMI ON CLOCK $4.64M $0.1240 5.48M 12 18 RS
144 LIMN ON CLOCK $4.67M $3.4800 55.97M 12 18 RS
145 SGRX ON CLOCK $1.46M $1.7500 970.2K 11 19 RS
146 YDKG ON CLOCK $4.61M $0.8318 29.89M 11 19 RS
147 BRNX ON CLOCK $4.93M $2.5300 715.9K 11 19 RS
148 HCWB ON CLOCK $3.43M $1.8700 - 9 21 RS
149 GRI ON CLOCK $4.22M $1.9300 2.19M 9 21 RS
150 SCKT ON CLOCK $4.28M $0.5162 8.27M 9 21 RS
151 RENX ON CLOCK $4.53M $1.7100 2.61M 9 21 RS
152 OMH ON CLOCK $4.61M $2.3900 2.36M 9 21 RS
153 NXAT ON CLOCK $3.75M $1.1600 - 8 22 RS
154 CDT ON CLOCK $2.38M $0.1740 631.1K 7 23 RS
155 EOCN ON CLOCK $3.51M $3.3700 1.00M 7 23 RS
156 KUST ON CLOCK $4.36M $0.6700 2.86M 7 23 RS
157 XPON ON CLOCK $4.47M $4.6500 953.2K 7 23 RS
158 KITT ON CLOCK $4.77M $0.6387 3.60M 7 23 RS
159 PMCB ON CLOCK $4.94M $0.4597 10.74M 7 23 RS
160 NIKI ON CLOCK $3.84M $4.7200 - 6 24 RS
161 DBGI ON CLOCK $4.17M $4.4700 547.5K 5 25 RS
162 CHNR ON CLOCK $4.79M $3.8100 - 5 25 RS
163 EHGO ON CLOCK $4.42M $0.8919 - 4 26 RS
164 MLEC ON CLOCK $4.43M $6.1000 - 4 26 RS
165 RMSG ON CLOCK $4.56M $0.2820 - 4 26 RS
166 NCRA ON CLOCK $4.70M $1.9800 1.56M 4 26 RS
167 MGN ON CLOCK $4.82M $3.9050 16.25M 4 26 RS
168 TNON ON CLOCK $4.21M $4.0800 330.7K 3 27 RS
169 WBUY ON CLOCK $4.64M $0.8472 2.44M 3 27 RS
170 LABT ON CLOCK $4.72M $1.9900 2.17M 3 27 RS
171 OLB ON CLOCK $4.90M $0.2040 12.49M 3 27 RS
172 TRUG ON CLOCK $958.0K $0.4980 3.16M 2 28 RS
173 UK ON CLOCK $1.35M $1.9856 - 2 28 RS
174 LESL ON CLOCK $3.89M $0.4151 9.37M 2 28 RS
175 TGL ON CLOCK $4.41M $2.2550 1.68M 2 28 RS
176 TRNR ON CLOCK $4.86M $3.0000 514.5K 2 28 RS
177 UYSCR ON CLOCK $418.2K $0.0800 1.91M 1 29 RS
178 SMTK ON CLOCK $1.24M $2.1900 25.68M 1 29 RS
179 DRCT ON CLOCK $1.32M $1.6400 - 1 29 RS
180 SQFT ON CLOCK $1.81M $1.2600 15.77M 1 29 RS
181 VBIO ON CLOCK $1.88M $2.1200 4.15M 1 29 RS
182 VCIG ON CLOCK $2.10M $1.6600 - 1 29 RS
183 SSM ON CLOCK $2.58M $1.5100 - 1 29 RS
184 SPRC ON CLOCK $2.62M $4.5100 - 1 29 RS
185 VRAX ON CLOCK $3.42M $2.5400 - 1 29 RS
186 BKYI ON CLOCK $3.56M $2.4800 1.09M 1 29 RS
187 VIVS ON CLOCK $3.77M $0.2270 3.19M 1 29 RS
188 BJDX ON CLOCK $4.11M $0.9200 1.98M 1 29 RS
189 DFSC ON CLOCK $4.20M $1.2100 - 1 29 RS
190 DAIC ON CLOCK $4.30M $3.5500 29.63M 1 29 RS
191 STFS ON CLOCK $4.32M $3.6200 - 1 29 RS
192 SNES ON CLOCK $4.42M $0.8155 5.30M 1 29 RS
193 BGLC ON CLOCK $4.61M $1.5700 2.42M 1 29 RS
194 DRMA ON CLOCK $4.67M $1.1600 4.02M 1 29 RS
195 VMAR ON CLOCK $4.75M $7.2800 - 1 29 RS
196 SNTG ON CLOCK $4.81M $1.7150 2.81M 1 29 RS
197 DPU ON CLOCK $4.90M $1.6300 - 1 29 RS
198 VEEE ON CLOCK $4.93M $8.5800 571.2K 1 29 RS
199 VIVK RECOVERED $577.0K $0.8648 511.0K 0 - RS
200 JZXN RECOVERED $584.5K $1.1400 1.26M 0 - RS
201 FEED RECOVERED $951.4K $1.0300 8.19M 0 - RS
202 FTFT RECOVERED $1.58M $0.8441 5.24M 0 - RS
203 ZNB RECOVERED $1.59M $1.6400 9.57M 0 - RS
204 SNYR RECOVERED $1.61M $0.1080 11.30M 0 - RS
205 RCON RECOVERED $1.66M $3.6700 7.93M 0 - RS
206 BTOG RECOVERED $1.84M $2.2100 970.2K 0 - RS
207 RPGL RECOVERED $2.10M $1.9200 - 0 - RS
208 AEMD RECOVERED $2.29M $1.4300 477.4K 0 - RS
209 SOBR RECOVERED $2.31M $0.4290 2.88M 0 - RS
210 BTAI RECOVERED $2.31M $0.0739 31.30M 0 - RS
211 GWAV RECOVERED $2.41M $2.9100 829.6K 0 - RS
212 BNRG RECOVERED $2.49M $3.4600 715.9K 0 - RS
213 VSEE RECOVERED $2.80M $0.0502 47.30M 0 - RS
214 BYAH RECOVERED $2.80M $3.5500 29.37M 0 - RS
215 SVRE RECOVERED $2.81M $3.0100 - 0 - RS
216 BCAB RECOVERED $2.89M $1.7350 1.66M 0 - RS
217 SGLY RECOVERED $3.09M $3.4400 7.29M 0 - RS
218 UPC RECOVERED $3.13M $5.5600 563.3K 0 - RS
219 CELZ RECOVERED $3.17M $0.6688 3.70M 0 - RS
220 TANH RECOVERED $3.28M $0.2299 1.13M 0 - RS
221 NCT RECOVERED $3.39M $0.3520 26.68M 0 - RS
222 FTRK RECOVERED $3.57M $0.1600 21.81M 0 - RS
223 QCLS RECOVERED $3.61M $0.4413 8.19M 0 - RS
224 ALP RECOVERED $3.63M $0.1545 280.72M 0 - RS
225 LHSW RECOVERED $3.65M $0.6228 50.00M 0 - RS
226 SLE RECOVERED $3.65M $2.2700 1.67M 0 - RS
227 FCUV RECOVERED $3.88M $5.5200 702.7K 0 - RS
228 BIAF RECOVERED $3.90M $6.5900 6.78M 0 - RS
229 AEHL RECOVERED $4.02M $3.5400 - 0 - RS
230 OSRH RECOVERED $4.09M $0.1165 35.12M 0 - RS
231 YYGH RECOVERED $4.16M $1.3000 - 0 - RS
232 KWM RECOVERED $4.20M $1.5500 - 0 - RS
233 JZ RECOVERED $4.21M $1.7500 169.11M 0 - RS
234 AMIX RECOVERED $4.24M $4.3700 542.3K 0 - RS
235 NTCL RECOVERED $4.28M $1.9800 10.0K 0 - RS
236 INM RECOVERED $4.34M $1.3100 5.34M 0 - RS
237 FRSX RECOVERED $4.37M $1.0600 140.63M 0 - RS
238 SURG RECOVERED $4.40M $0.1750 26.51M 0 - RS
239 AUUD RECOVERED $4.41M $0.8222 500.9K 0 - RS
240 NCPL RECOVERED $4.42M $0.5631 6.85M 0 - RS
241 ZCMD RECOVERED $4.51M $1.0800 - 0 - —
242 WXM RECOVERED $4.51M $4.0000 6.90M 0 - RS
243 XELB RECOVERED $4.57M $0.6960 6.48M 0 - RS
244 CNET RECOVERED $4.60M $1.2550 3.67M 0 - RS
245 CUPR RECOVERED $4.64M $1.7300 - 0 - RS
246 CWD RECOVERED $4.64M $0.5250 15.18M 0 - RS
247 TWAV RECOVERED $4.69M $1.2100 3.57M 0 - RS
248 GAUZ RECOVERED $4.70M $0.2507 18.74M 0 - RS
249 SONM RECOVERED $4.72M $3.1700 1.49M 0 - RS
250 ENVB RECOVERED $4.75M $1.2900 - 0 - —
251 RITR RECOVERED $4.75M $0.0761 62.44M 0 - RS
252 GURE RECOVERED $4.77M $3.0964 1.54M 0 - RS
253 JWEL RECOVERED $4.78M $2.0100 2.38M 0 - RS
254 GLMD RECOVERED $4.82M $4.6300 1.00M 0 - RS
255 OFAL RECOVERED $4.82M $1.0400 13.92M 0 - RS
256 NWTG RECOVERED $4.87M $1.0600 - 0 - RS
257 NWGL RECOVERED $4.87M $0.2941 - 0 - RS
258 ADXN RECOVERED $4.87M $3.8500 - 0 - RS
259 POLA RECOVERED $4.89M $1.2700 3.81M 0 - RS
260 AIDX RECOVERED $4.89M $0.4610 10.44M 0 - RS
261 INBS RECOVERED $4.90M $2.0500 2.00M 0 - RS
262 ERNA RECOVERED $4.91M $4.2100 1.17M 0 - RS
263 CDIO RECOVERED $4.91M $1.6600 2.96M 0 - RS
264 WAFDP RECOVERED $4.92M $16.4000 73.95M 0 - RS
265 CYAB RECOVERED $4.93M $0.2800 1.0K 0 - RS
266 HCAI RECOVERED $4.93M $0.6040 16.00M 0 - RS
267 WCT RECOVERED $4.94M $1.0900 51.27M 0 - RS
268 EEIQ RECOVERED $4.94M $3.0000 23.40M 0 - RS
269 WOK RECOVERED $4.96M $2.0500 14.59M 0 - RS
270 MEDS RECOVERED $4.96M $1.6200 2.84M 0 - RS
271 PULM RECOVERED $4.97M $1.3600 3.65M 0 - RS
272 BGMS RECOVERED $4.97M $0.9001 5.52M 0 - RS
273 ATER RECOVERED $4.97M $0.4572 10.88M 0 - RS
274 BMRA RECOVERED $4.98M $1.6100 3.03M 0 - RS
275 GMM RECOVERED $4.99M $2.5500 28.55M 0 - RS
276 HKPD RECOVERED $4.99M $0.1206 - 0 - RS
277 AGRZ RECOVERED $4.99M $0.2301 - 0 - RS
278 CRE RECOVERED $4.99M $2.4800 - 0 - RS
279 FBGL RECOVERED $5.00M $0.3700 13.50M 0 - RS
280 RVPH RECOVERED $5.54M $0.4225 - 0 - —
281 VS RECOVERED $6.57M $1.3400 - 0 - —
282 CHAI RECOVERED $8.66M $0.4349 - 0 - —
283 PRSO RECOVERED $9.84M $0.6698 - 0 - —
// Last refreshed Sep 21, 2026 by the nightly nasdaq-delisting-refresh cron (03:30 UTC). MVLS: Webull snapshot market value (price × listed shares). The 30-consecutive-business-day clock resets to 0 the day MVLS closes at or above $5M.
§02 // THE_MVLS_RULE

The Nasdaq MVLS delisting rule, in plain English

Nasdaq's continued-listing standards are enforced through a specific mechanic. Rule SR-NASDAQ-2026-004 sets a minimum Market Value of Listed Securities (MVLS) of $5 million. MVLS is the closing price multiplied by the total listed shares outstanding; Tapeboard reads the figure straight from the Webull quote-snapshot market-value field. When a company's MVLS closes below $5M, a 30-consecutive-business-day clock starts. Under the rule as approved, if MVLS stays below the floor for 30 consecutive business days in a row, Nasdaq Staff issues an immediate delisting determination with NO cure period — suspension and a move to OTC markets. That approval is currently under SEC stay (2026-07-29, Rule 431(e)), so no determinations are being issued while the stay holds.

Two details matter for traders. First, the clock counts consecutive business days, not calendar days, a single close at or above $5M resets the counter to zero. That is why Tapeboard tracks consecutive_below_days and last_reset_date per ticker: a name oscillating around the line can reset repeatedly without ever triggering. Second, the reverse-split escape hatch is itself restricted. Under SR-NASDAQ-2025-065, a company that has already done a reverse split in the prior 12 months, or whose cumulative reverse-split ratio over 24 months exceeds 250-to-1, faces heightened scrutiny and may not get the split approved as a cure. That pincer, a low MVLS pushing toward delisting while the standard cure is itself restricted, is what the "reverse-split trap" flag on this watchlist is measuring.

A ticker on the clock is not guaranteed to delist. Companies repair MVLS by issuing shares, completing an acquisition that adds value, or executing a reverse split (when eligible). The clock is a regulatory deadline, not an outcome, and while the SEC stay holds there is no active process behind the deadline at all. Tapeboard tracks days-to-trigger so you can see how much runway a name has before a determination would issue under the rule as approved — assuming the stay lifts.

§03 // HOW_TAPEBOARD_BUILDS_THE_WATCHLIST

How Tapeboard builds this watchlist

Every night at 03:30 UTC (30 minutes after the fundamentals universe refresh, pre-US-market), the nasdaq-delisting-refresh cron runs this pipeline:

  1. Universe: Nasdaq's nightly nasdaqlisted.txt (~5,500 rows), filtered to common stock, non-ETF, non-test issues.
  2. MVLS: batched Webull quote-snapshot fetch — the market_value field (price × listed shares) IS the figure the rule measures. Tickers below the $5M floor become candidates.
  3. Provenance: each candidate's SEC EDGAR CIK is resolved, and shares outstanding are pulled from EDGAR companyfacts with the as-of filing date and form (10-K, 10-Q, 8-K, proxy) recorded.
  4. Clock: read yesterday's consecutive_below_days from D1, increment if MVLS < $5M, reset to 0 if ≥ $5M. Derive days_to_trigger = 30 − consecutive_below_days. A name at ≥30 days is marked past_trigger_stayed — while the SEC stay (Rule 431(e), 2026-07-29) holds, no Staff determination can issue, so the status says exactly that.
  5. Reverse-split cross-reference: search EDGAR for 8-K Item 5.03 filings (material amendment to charter) in the prior 2 years, flag any in the last 12 months, and sum the cumulative ratio. Upsert the row into the nasdaq_delisting_watchlist D1 table; names that recovered above the floor are marked graduated.

Request time is zero upstream fan-out: the public /api/nasdaq-delisting/watchlist route reads straight from D1, so the page loads in milliseconds regardless of how many tickers are on the clock. The tradeoff is freshness, the data is one cycle old (last night's close), not real-time. That is the correct trade for a structural watchlist; intraday MVLS does not change the 30-day clock.

§04 // NEW_HERE_READ_THIS_FIRST

New to Nasdaq delisting risk? Start here.

Nasdaq is a stock exchange with continued-listing standards. A company that falls below those standards for long enough gets delisted, its shares removed from the Nasdaq board and pushed to the OTC markets, where liquidity drops and bid/ask spreads widen. The most common failure mode is the MVLS rule below. Here is what each column on this watchlist means:

MVLS
Market Value of Listed Securities. Closing bid × total outstanding listed shares. The $5M floor is the Nasdaq continued-listing standard.
ON CLOCK
consecutive_below_days ≥ 1 — MVLS has closed below $5M at least once and the 30-day count is running.
APPROACHING
consecutive_below_days ≥ 25 — within a week of the delisting determination trigger if MVLS stays below the floor.
DAYS TO TRIGGER
30 − consecutive_below_days. The consecutive sub-$5M closes remaining before a Staff determination would trigger under the approved rule — currently SEC-stayed (Rule 431(e), 2026-07-29), so no determinations are issuing.
RS 12MO
A reverse split was effected in the prior 12 months. Under SR-NASDAQ-2025-065, a repeat split as a cure faces heightened scrutiny.
RS TRAP
Cumulative 24-month reverse-split ratio exceeds 250-to-1. The standard MVLS cure (reverse split) may not be approvable.

A ticker on this watchlist is not guaranteed to delist. Companies cure by issuing shares, completing a value-adding acquisition, or executing a reverse split (when eligible). The clock is a regulatory deadline, not an outcome.

§05 // FAQ

Nasdaq delisting watchlist FAQ

What is the Nasdaq MVLS delisting rule?

Nasdaq Rule SR-NASDAQ-2026-004 requires a minimum Market Value of Listed Securities (MVLS) of $5 million. MVLS is the closing price multiplied by total listed shares outstanding. Under the approved-but-stayed rule, 30 consecutive business days below the $5M floor triggers an immediate Staff delisting determination with NO cure period — suspension and a move to OTC markets. That rule is currently stayed by the SEC (Rule 431(e), 2026-07-29), so no determinations are being issued. If the stay lifts, day-30 names face determination immediately; the clocks shown assume the rule as approved.

How is MVLS calculated?

MVLS = price × total listed shares. Tapeboard reads it directly from the Webull quote-snapshot market_value field — the same figure Nasdaq's rule measures — rather than synthesizing it. Shares outstanding context comes from SEC EDGAR companyfacts with the filing's as-of date and form recorded as provenance. Market cap differs from MVLS for dual-listed or multi-class share structures; MVLS counts only the listed class, which is the figure Nasdaq's rule actually measures.

What is the reverse-split trap?

The standard cure for a sub-$5M MVLS is a reverse split, which mechanically lifts the per-share price and therefore MVLS. But under SR-NASDAQ-2025-065, a company that has already done a reverse split in the prior 12 months, or whose cumulative reverse-split ratio over 24 months exceeds 250-to-1, faces heightened scrutiny and may not get a repeat split approved as a cure. When both conditions hit (low MVLS pushing toward delisting while the standard cure is itself restricted), the company is in a reverse-split trap. Tapeboard flags this with the RS 12MO and cumulative-ratio columns.

How often does the watchlist update?

The nasdaq-delisting-refresh cron runs nightly at 03:30 UTC (30 minutes after the fundamentals universe refresh, before US market open). It loads Nasdaq's nightly nasdaqlisted.txt universe (common stock, non-ETF, non-test), reads MVLS from the Webull snapshot (market value = price × listed shares), resolves shares outstanding + provenance from SEC EDGAR, advances or resets the 30-consecutive-business-day counter, and searches EDGAR for new 8-K Item 5.03 reverse-split filings. The public watchlist API reads straight from the resulting D1 table, so request time is zero upstream fan-out; the data is one market close old, never real-time.

Does appearing on this watchlist mean a stock will be delisted?

No. The watchlist flags structural risk, the 30-day clock is running, not an outcome. Companies cure compliance regularly by issuing shares, completing an acquisition that adds value, executing an eligible reverse split, or simply seeing MVLS close at or above $5M on any business day (which resets the counter to zero). A name oscillating around the line can reset repeatedly without ever triggering. The days-to-trigger column shows how much runway remains before the determination notice would land if MVLS stays below the floor.

What happens when a stock is delisted from Nasdaq?

Under the rule as approved, an MVLS delisting determination is immediate — no cure window — and the stock is suspended from the Nasdaq exchange and its shares move to the OTC markets (OTC Pink or OTCQB, depending on disclosure level). (That rule is currently SEC-stayed under Rule 431(e), so no determinations are being issued while the stay holds.) OTC trading typically means materially lower liquidity, wider bid/ask spreads, reduced analyst coverage, and removal from index inclusion. The company can re-apply for Nasdaq listing later if it regains compliance, but most delisted names remain OTC indefinitely.

Is the data on this page free?

Yes. The watchlist, per-ticker detail, and reverse-split history are free and require no account. Universe: Nasdaq's nightly nasdaqlisted.txt (common stock, non-ETF, non-test); MVLS: Webull snapshot market value (price × listed shares); reverse splits: SEC EDGAR 8-K Item 5.03 filings. Tapeboard re-publishes it in a structured, ranked form. The full Tapeboard terminal (real-time scanner, charts, SEC filings surface, alerts) is a separate paid product, but the delisting watchlist surface itself is free.

§06 // OPEN_TERMINAL

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