Why Is Ryde Stock Soaring Friday?
On May 21, 2025, NYSE American notified the Singapore-based mobility and quick commerce technology platform that it fell short of the NYSE American Company Guide, which applies to companies with less than $4 million in stockholders' equity and losses in three of the past four fiscal years.
Ryde submitted its compliance plan before the June 20, 2025, deadline.On August 5, 2025, NYSE American granted Ryde until November 21, 2026, to meet the requirements, with quarterly monitoring during the plan period.
During this time, Ryde's Class A voting shares will remain under the "RYDE" symbol.
The company said the notice does not affect its business, operations, financial position, liquidity, or SEC reporting obligations. Still, it cautioned that it cannot assure progress or guarantee it will regain compliance before the plan period ends.
Ryde stock plunged over 30% year-to-date. However, it remains invested in strategic partnerships to unlock value.
In July, Ryde announced entering Singapore's high-end electric mobility market with RydeLUXE 6, launched in partnership with Atoll Discovery after acquiring a 40% stake in the fleet operator.
The deal gives Ryde immediate access to Atoll's GAC E9 luxury PHEV fleet and corporate client network, strengthening its premium ride-hailing segment.
Ryde plans to route Atoll's corporate contracts through its app, while Atoll will expand its fleet to 100 units by the end of 2026. The venture is expected to contribute up to 10% of Ryde's revenue by 2027 and supports Singapore's Green Plan 2030.
Price Action: RYDE shares are trading higher by 6.25% to $0.3400 premarket at last check Friday.
Photo by Piotr Swat via Shutterstock
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