Loop Media Delists from NYSE, Moves to OTC Pink Market
Burbank, California-based Loop Media, Inc., has been delisted from the New York Stock Exchange American (NYSE American), with its stock now trading on the OTC Pink Market.
The delisting follows a notice from NYSE Regulation on 8 August 2024, citing the low selling price of Loop Media's common stock, which traded under the symbol LPTV, as unsuitable for listing.
The company opted not to appeal the decision, with the NYSE American filing a Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934 on 15 August 2024. The delisting is expected to become effective ten days after the filing of Form 25, with deregistration under Section 12(b) to follow ninety days later, or sooner if the Securities and Exchange Commission (SEC) determines it appropriate.
Following the suspension of trading on the NYSE American, Loop Media's stock commenced trading on the OTC Pink Market on 9 August 2024. However, it's important to note that there is no guarantee that trading on this market will continue.
Loop Media, incorporated in Nevada and operating under the name 07 Trade & Services, provides help supply services. The company's fiscal year ends on 30 September, and it is identified by the IRS number 473975872.
InvestingPro Insights
The delisting and move to the OTC Pink Market raise questions about Loop Media's financial health and market performance. Data from InvestingPro reveals a number of challenges facing the company.
Loop Media has been operating with a significant debt burden and analysts anticipate a decline in sales this year. This has contributed to a significant price total return decrease of -93.78% over the last year.
Further analysis from InvestingPro highlights Loop Media's financial struggles, with a market capitalisation of just £7.09 million and a negative revenue growth of -36.46% in the last twelve months as of Q3 2024. The company's stock has also exhibited high price volatility, which may be a concern for potential investors.
Loop Media's current low revenue valuation multiple and lack of dividend payments may be further discouraging factors for investors. For those seeking more detailed analysis and additional insights, InvestingPro offers 16 tips available at [https://www.investing.com/pro/LPTV](https://www.investing.com/pro/LPTV), which can help inform investment decisions.
It is important for investors to carefully consider the risks and potential rewards associated with investing in Loop Media before making any decisions.
