Updated from 4:56 p.m. ET on Feb. 24, to remove rating content from TheStreet Ratings, because TheStreet Ratings has withdrawn its rating on AVID due to Avid Technology announcing it would restate its earnings and the NASDAQ delisting.
NEW YORK (TheStreet) -- Avid Technology (AVID) was falling 25.7% to $5.14 Monday after receiving a delist letter from NASDAQ.
The technology company announced that it received a notification letter from NASDAQ in Feb. 21 that said the NASDAQ Listing Qualifications Hearings Panel decided to delist the company. NASDAQ will suspend trading of the company's stock at the open of business on Tuesday, Feb. 25.
After the suspension of trading the company will begin trading on OTC markets.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV