No, the ticker doesn't prevent them from conducting business. But it does look bad. They are supposed to be the next billion $$ athletic wear company and their ticker is from an old generation of failed business, aka "Illegal Burger". Even worse the the ticker name and symbol don't even match. If they want to be treated as a billion $$ company, they need to pay attention to the little things that make a first impression. Also, the fact remains that the ticker change failure is indicative of unresolved issues with FINRA that need to be addressed.
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