DevvStream Corp. (NASDAQ:DEVS) shares fell sharply on Tuesday after the company said Nasdaq will suspend trading of its shares due to continued listing rule violations.
DEVS closed Tuesday’s regular session at $0.15, down 29.56%. In after-hours trading, shares plunged to $0.048, down 68.56%.
DevvStream Corp. is a carbon management company that helps businesses reduce emissions by working on carbon credits and clean energy projects.
Nasdaq Delisting Notice Weighs On Shares
DevvStream said in a Form 8-K filing that on June 22, 2026, it received a letter from Nasdaq stating that the Nasdaq Hearings Panel has decided to suspend the company’s securities from the exchange.
The delisting decision was based on two compliance failures: noncompliance with Nasdaq’s $1.00 minimum bid price requirement under Listing Rule 5550(a)(2), and failure to meet Listing Rule 5550(b), also known as the Net Income Rule.
Trading in DEVS shares is scheduled to be suspended at the open on June 24, 2026.
The company said it plans to appeal the delisting decision to the Nasdaq Listing and Hearing Review Council. However, the appeal will not automatically stop the trading suspension.
If suspended from Nasdaq, DevvStream expects its shares to trade on the OTC Pink Limited Market under the same ticker symbol, DEVS. The company also plans to apply for listing on the OTCQB Market.
Management said moving to over-the-counter markets could hurt liquidity and trading volume, and may make it harder for shareholders to buy or sell shares.
Trading Metrics, Technical Analysis
DevvStream has a market capitalization of approximately $5.30 million.
The stock has traded between a 52-week high of $4.16 and a 52-week low of $0.11.
Over the past 12 months, DEVS shares have declined approximately 95.77%.
Benzinga Edge Stock Rankings indicate negative short-term, medium-term and long-term price trends.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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