Core Viewpoint - Mustang Bio (NASDAQ:MBIO) is experiencing a significant increase in stock trading volume, with over 13.9 million shares traded, far exceeding its average of 345,000 shares, amidst a delisting notice from Nasdaq [1][2]. Group 1: Stock Performance - MBIO stock has surged by 58.4% as of Wednesday morning, although it has declined by 76.5% year-to-date as of the previous market close [4]. - The company has a float of 9.36 million shares, indicating a relatively low number of shares available for trading [1]. Group 2: Delisting Notice - Mustang Bio received a delisting notice from Nasdaq due to its shares trading below the minimum bid price of $1 for an extended period [2][3]. - The company has until November 12, 2024, to regain compliance with Nasdaq's listing standards by maintaining a share price above $1 for 10 consecutive trading days [2][3]. - If compliance is not achieved, Mustang Bio may qualify for an additional 180-day extension to adjust its share price [4].
Why Is Mustang Bio (MBIO) Stock Up 58% Today?