Nasdaq issued a delisting determination to Snail, Inc. (SNAL) on July 1, 2026. The notice followed a compliance period that ended on June 29, 2026. Snail failed to meet the $1.00 minimum bid price and other continued listing standards. The company is appealing the decision before a Nasdaq panel to temporarily halt the delisting.
Snail implemented a 1-for-5 reverse stock split of Class A and Class B common stock on July 2, 2026. This consolidation aims to increase the per-share price to regain regulatory compliance. Split-adjusted trading will begin on July 6, 2026. The company cautioned that the split may not satisfy Nasdaq requirements or sustain the minimum stock price.