InsiderFlow › Glossary › What is delisting?
Delisting is a stock's exit from the exchange: voluntary (the company goes private) or forced (listing requirements not met).
Voluntary: a private equity fund or the founder buys all shares and withdraws the company from the market — like Musk with Twitter in 2022. Shareholders are offered a withdrawal price, usually at a premium.
Forced: price below the minimum ($1 on Nasdaq), unfiled accounts, insufficient market cap, or bankruptcy. In that case shares end up on OTC markets, where liquidity and transparency collapse.
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If voluntary, you receive the offer price; if forced, you remain a shareholder but on illiquid OTC markets: usually worth considering an exit beforehand.
No: in acquisitions shareholders often collect 20–40% premiums over the market price.