Argo Blockchain has suspended trading of its shares on Nasdaq

Mining company Argo Blockchain has announced the suspension of trading on Nasdaq for its depositary shares and unsecured bonds. Argo Blockchain has filed a request with the Nasdaq stock exchange to suspend trading in the US for 24 hours for its depositary shares (ADS) and unsecured bonds listed on the Nasdaq Global Select Market.. The company's administration is expected to make an important announcement regarding its financial performance and business strategy, after which trading will resume. Over the past few months, Argo has struggled to raise around $35 million in funding to stay afloat amid tight liquidity.. But last month, the company said a planned $27 million share sale fell through and warned investors it could have negative cash flow. Argo shares are also listed on the London Stock Exchange (LSE). However, trading in Argo's shares on the LSE was halted earlier this month after the company accidentally released draft materials showing Argo was preparing for voluntary bankruptcy.