BNB just set a new historical peak in Wednesday's trading session, for the first time surpassing 880 USD. Notably, this breakthrough occurred right after Windtree Therapeutics (ticker WINT) announced that Nasdaq will delist the company's stock.
Nasdaq Preparing to Delist WINT Due to Listing Standard Violation
In the Form 8-K report submitted to the US Securities and Exchange Commission (SEC) on Wednesday, Windtree Therapeutics stated that the company's stock will be officially delisted from the Nasdaq Capital Market, with the trading suspension taking effect from Thursday.
The reason stems from Nasdaq determining that Windtree violated Listing Rule 5550(a)(2), which requires companies on the Capital Market to maintain a minimum stock price of 1 USD per share for at least 30 consecutive trading sessions.
In this situation, Windtree plans to transfer its stock to over-the-counter (OTC) trading, maintaining the WINT ticker from Thursday. Simultaneously, the company has filed an application to list on the OTC Integrated Disclosure (OTCID) market segment, while emphasizing that there is no guarantee this application will be approved.
Windtree affirms that the market transfer will not affect its core business operations. However, the OTC market is notorious for low liquidation and limited transparency, which may make stock trading more challenging compared to Nasdaq.
Immediately following the announcement, WINT stock plummeted by 76%.
Windtree and BNB Treasury Strategy
This development occurred less than a month after Windtree announced its treasury management strategy using BNB. According to the signed agreement, the company plans to raise up to 520 million USD, with up to 99% of capital allocated to purchasing BNB.
Notably, despite unfavorable information related to its primary treasury partner, BNB still made a strong breakthrough, establishing a new historical peak on Wednesday. According to Binance data, the cryptocurrency increased by 5% in just 24 hours.
BNB Technical Prospects
BNB's price momentum was triggered after the coin rebounded from the 14-day exponential moving average (EMA), just above the critical support level of 814 USD. Many experts suggest that if this trend continues, BNB could break through to the 920 USD range in upcoming sessions, completing the forming rectangular pattern.
Technical signals also reinforce this optimistic outlook: both the Relative Strength Index (RSI) and Stochastic Oscillator are approaching the overbought zone, reflecting strong demand and evident upward price pressure.
