KindlyMD’s Nasdaq listing is on the ropes as its stock teeters near penny-stock territory, raising fresh questions about the company’s turnaround after its merger to form a Bitcoin-focused business. Key facts - Ticker: NAKA (Nasdaq). - Current share price: $0.38 (closed Tuesday). - Delisting deadline: June 8, 2026 — the date by which KindlyMD must regain compliance with Nasdaq’s minimum bid-price rule. - Compliance requirement: a closing bid of at least $1.00 for a minimum of 10 consecutive business days (Nasdaq may require up to 20 consecutive days in certain cases). - Year-to-date decline: almost 99% from its peak of $34.77. - Bitcoin holdings: 5,398 BTC (valued at roughly $474 million per Bitcoin Treasuries). - Market capitalization: about $256 million. What’s happening Nasdaq notified KindlyMD — a notice the company disclosed in an SEC filing — that its shares have persistently traded below the $1 threshold. To avoid delisting, NAKA must sustain a $1-plus close for the required consecutive-business-day window before the June 2026 deadline. Nasdaq’s notice also warns it can, at its discretion, extend that window to as many as 20 days. Why the slide accelerated KindlyMD completed a merger with Nakamoto in August to create a combined Bitcoin-focused entity led by CEO David Bailey. The situation deteriorated in September after previously restricted shares from a reported $200 million fundraising were unlocked, triggering significant selling pressure. Bailey acknowledged the churn in a shareholder letter then, urging short-term traders to “exit” and describing the period as “a point of uncertainty for investors.” Complicating matters further, the company delayed its Q3 earnings in November, attributing the postponement to complex accounting issues stemming from the Nakamoto merger. That delay likely amplified investor unease. The balance-sheet paradox Despite the stock’s collapse, KindlyMD’s reported Bitcoin stash — roughly $474 million at current prices — exceeds its market capitalization of about $256 million. That gap highlights a disconnect between the company’s crypto assets and investor sentiment toward the equity. What to watch next - Whether NAKA can rally and sustain a $1+ close for the required consecutive days before June 8, 2026. - Any further disclosures around accounting for the Nakamoto merger and the timing of delayed financial filings. - Insider moves or additional share unlocks that could add selling pressure. If compliance isn’t restored, Nasdaq could start delisting procedures, leaving KindlyMD to seek a transfer to an alternative exchange or trade over the counter. For now, the stock’s steep fall and the looming compliance deadline make this one of the more closely watched Bitcoin corporate stories for investors tracking treasury-centric plays. Read more AI-generated news on: undefined/news

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