Nasdaq told Youbet.com officials Tuesday that the company failed to meet the minimum price requirement and is subject to being delisted. To remain on the exchange, Youbet.com stock needed to trade about $1 per share for 10 consecutive days before Monday.

Ironically, Youbet.com announced Monday its biggest deal to date -- a joint venture with the TV Games Network that would give the online horse racing and wagering company access to the top Thoroughbred racetracks in the United States. When the market opened Monday, Youbet.com stock spiked 101% to $1.51 during morning trading and more than 3.1 million shares were traded by the end of the day. The stock has slid since then, closing at $1.09 by the end of trading Thursday.