Nasdaq (NDAQ) notified Smart Digital Group (Nasdaq: SDM) that its securities are expected to be delisted from the Nasdaq Stock Market LLC on June 24, 2026, unless the company appeals to a Listing Qualifications Hearings Panel.
Trading in SDM remains halted and unavailable until any appeal is resolved, and the securities may later be eligible for over-the-counter trading.
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Nasdaq plans to delist Smart Digital Group (SDM) on June 24, 2026 unless appealed
Trading in SDM securities remains halted and unavailable until any appeal is resolved
SDM shares may move to over-the-counter market, which often has lower liquidity
News Market Reaction – NDAQ
-1.26%
68 alerts
-1.26%Session close to close
-3.9%Trough in 1 hr 42 min
$48.48BMarket Cap
1.2xRel. Volume
In the Jun 18 session, NDAQ declined 1.26%, reflecting a mild negative market reaction.
Argus tracked a trough of -3.9% from its starting point during tracking.
Our momentum scanner triggered 68 alerts that day, indicating high trading interest and price volatility.
This announcement highlights Nasdaq’s application of Rule IM-5101-4 and the Rule 5800 Series in deli...
Analysis
This announcement highlights Nasdaq’s application of Rule IM-5101-4 and the Rule 5800 Series in delisting Smart Digital Group. Recent history shows mixed trading responses to similar regulatory actions; with short interest at 1.72%, watch for news-driven rather than short-driven volatility.
Nasdaq Verafin expanded its Agentic AI workforce for AML and fraud automation.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Recent news reactions are mixed, with some positive partnership and AI updates seeing negative price moves, indicating occasional divergence between headlines and trading.
"unless the company appeals to a Listing Qualifications Hearings Panel."
A listing qualifications hearings panel is a review board at a stock exchange that evaluates whether a company still meets the exchange’s rules for being listed, such as minimum share price, financial reporting, or governance standards. Think of it as a referee deciding if a team can stay in the league; its decisions can affect a stock’s ability to trade on the exchange, liquidity, investor confidence, and ultimately share value.
over-the-counter marketfinancial
"Following removal from Nasdaq the securities may be eligible for trading in the over-the-counter market."
A market where securities are bought and sold directly between dealers and brokers instead of on a centralized stock exchange. Think of it like a neighborhood bazaar compared with a big supermarket: prices and rules can vary, oversight is lighter, and some instruments are harder to trade or riskier. Investors care because OTC listings can offer access to small or specialized investments but often come with higher price volatility, lower liquidity, and greater information risk.
trading suspensionregulatory
"Following a temporary trading suspension in the Company’s securities by the U.S. Securities and Exchange Commission"
A trading suspension is a temporary halt on buying and selling a company's stock imposed by an exchange or regulator while a specific issue is resolved or more information is provided. It matters to investors because it freezes the market value and prevents trades—like pausing a game until the referee clears a disputed play—so investors cannot adjust positions and may face sudden price moves or uncertainty when trading resumes.
im-5101-4regulatory
"Nasdaq has now determined that it is appropriate to use its authority under IM-5101-4 to delist"
An investigational product code name for a drug or medical therapy under development and testing. Think of it as a prototype being evaluated in clinical studies to prove it works and is safe; positive or negative trial results, safety findings, or regulatory decisions about it can materially affect the developer’s future revenue prospects and share price. Investors watch such codes because they signal potential new products, timelines to market, and the level of scientific and regulatory risk involved.
NEW YORK, June 17, 2026 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market (Nasdaq: NDAQ) announced today that it has notified Smart Digital Group Limited (Nasdaq: SDM) that its securities will be delisted from the Nasdaq Stock Market LLC on June 24, unless the company appeals to a Listing Qualifications Hearings Panel. The securities will remain halted, and unavailable to trade, until any appeal is resolved. Following removal from Nasdaq the securities may be eligible for trading in the over-the-counter market.
Following a temporary trading suspension in the Company’s securities by the U.S. Securities and Exchange Commission (https://www.sec.gov/enforcement-litigation/trading-suspensions/34-104112-ts) Nasdaq halted trading in the Company’s ordinary shares on October 11, 2025. Nasdaq has now determined that it is appropriate to use its authority under IM-5101-4 to delist the Company’s securities from Nasdaq.
For news and additional information about the company, please review the companies’ public filings or contact the company directly.
What did Nasdaq (NDAQ) announce about Smart Digital Group (SDM) on June 17, 2026?
Nasdaq announced it plans to delist Smart Digital Group (SDM) securities on June 24, 2026, unless the company appeals. According to Nasdaq, SDM shares remain halted and cannot trade while any appeal process is pending.
When will Smart Digital Group (SDM) be delisted from Nasdaq if there is no appeal?
If Smart Digital Group does not appeal, SDM securities are set to be delisted from Nasdaq on June 24, 2026. According to Nasdaq, the delisting follows an earlier SEC trading suspension and a trading halt begun on October 11, 2025.
Can Smart Digital Group (SDM) appeal Nasdaq's planned delisting decision?
Yes, Smart Digital Group can appeal the planned delisting to a Nasdaq Listing Qualifications Hearings Panel. According to Nasdaq, SDM securities will stay halted and unavailable to trade until any such appeal is fully resolved.
Will Smart Digital Group (SDM) shares trade over the counter after the Nasdaq delisting?
Smart Digital Group shares may become eligible for over-the-counter trading after removal from Nasdaq. According to Nasdaq, eligibility is not guaranteed, and investors should review the company’s public filings or contact the company for more information.
Why were Smart Digital Group (SDM) shares halted before the June 2026 delisting notice?
SDM shares were halted after a temporary trading suspension in the company’s securities by the U.S. SEC. According to Nasdaq, trading in the company’s ordinary shares was halted on October 11, 2025 and remains halted.
Which Nasdaq rule is Nasdaq using to delist Smart Digital Group (SDM)?
Nasdaq is using its authority under IM-5101-4 to delist Smart Digital Group securities. According to Nasdaq, it has determined that applying this discretionary authority is appropriate given the prior SEC trading suspension and ongoing trading halt.
