Opendoor delays vote amid stock surge, Nasdaq threat

Opendoor, whose stock price has soared since early July, has postponed a special stockholder meeting originally scheduled for today to address a Nasdaq listing notification. 

The vote, now rescheduled for Aug. 27, concerns a potential reverse stock split that, if approved by shareholders and enacted by the board, could help remedy the company’s share price deficiency.

In May, the company was told by Nasdaq it was out of compliance with listing rules that require it to maintain a $1 per share closing price for 30 consecutive days. In fact, until the runup, it had not closed above $1 per share since April, according to Yahoo Finance.

“In light of the recent volatility in the trading of Opendoor’s common stock and the impact on its trading price, the Board believes it is in the best…