ModivCare Surges 91% on Nasdaq Delisting, Spikes to 318th in Trading Volume as Bankruptcy Filing Fuels Volatility

On August 22, 2025, ModivCare (MODV) surged 91.07% with a trading volume of $0.33 billion, a 2115.81% increase from the previous day, ranking 318th in market activity. The sharp rally followed a delisting notice from Nasdaq and the company’s Chapter 11 bankruptcy filing two days prior.

ModivCare announced on August 21 that Nasdaq initiated delisting proceedings due to its voluntary Chapter 11 filing on August 20. The restructuring plan, backed by a supermajority of stakeholders, aims to reduce $1.4 billion in debt and inject capital. Despite the delisting, the company emphasized continued operations of its non-emergency medical transportation, personal care services, and in-home monitoring solutions without disruptions. Nasdaq also cited the firm’s failure to file a timely quarterly report for the June 30, 2025, quarter as a secondary reason for the delisting, with trading set to halt on August 28.

The delisting triggers a shift to the OTC Pink Market, though the company cannot guarantee continued trading. Investors face heightened risks as securities trading during bankruptcy proceedings may not reflect actual recovery values. The restructuring is expected to cut funded debt by $1.1 billion, but the stock’s recent 97.8% annual decline underscores investor skepticism about its long-term viability.

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