Argo Blockchain Plunges 24.18% on Delisting Plan

On July 2, 2025, Argo Blockchain's stock experienced a significant drop of 24.18% in pre-market trading, reflecting a tumultuous period for the company.

Argo Blockchain has announced a restructuring plan that is expected to result in its delisting from the London Stock Exchange, although the company intends to maintain its listing on the Nasdaq. This move comes as the company faces financial uncertainty and aims to file the restructuring plan with the court by August 29, with the goal of it taking effect before November 30. The plan requires approval from shareholders and other stakeholders, and its implementation could have significant implications for the company's future operations and shareholder equity.

The restructuring plan has led to a substantial decline in Argo Blockchain's stock price, with shares crashing by over 60% amid the announcement. This dramatic drop highlights the market's concern over the company's financial health and its ability to navigate the challenges ahead. The restructuring plan includes the cancellation of shares, which has wiped out shareholder equity, further exacerbating the situation for investors.