KindlyMD Faces Nasdaq Delisting Risk Amid Stock Price Decline
KindlyMD, trading under the ticker NAKA, is at risk of being delisted from the Nasdaq due to its share price falling below $1. The current closing price is $0.38, and the company must maintain a closing price above $1 for 10 consecutive trading days to regain compliance with Nasdaq listing requirements. The deadline to achieve this is June 8, 2026, though Nasdaq may require up to 20 consecutive days of compliance.
KindlyMD merged with Nakamoto to create a Bitcoin-focused entity, with David Bailey serving as the CEO of the combined company. The company's troubles began in September when previously restricted shares were unlocked as part of a $200 million fundraising round. Additionally, there was a delay in releasing Q3 earnings in November due to complex accounting related to the Nakamoto merger.
The company holds 5,398 bitcoins valued at approximately $474 million according to Bitcoin Treasuries. However, its market capitalization has fallen to roughly $256 million. KindlyMD's stock price has plummeted about 99% from its peak of $34.77.
