If a stock is cross-listed on two exchanges and stops trading on one, it can impact liquidity and investor access. The remaining exchange will continue to facilitate trading, but the company might lose some benefits of being dual-listed, such as increased liquidity and access to a broader investor base[2][3][4]. The company will also no longer need to comply with the listing requirements and fees of the exchange where it ceased trading[3]. However, investors holding shares on the non-trading exchange may need to transfer them to the active exchange to trade[2].
Citations:
[1] https://www.reddit.com/r/answers/comments/vi05j/why_are_there_multiple_stock_exchanges_within_one/
[2] https://freetrade.io/learn/how-do-dual-listings-work
[3] https://corporatefinanceinstitute.com/resources/equities/dual-listing/
[4] https://www.dfinsolutions.com/knowledge-hub/thought-leadership/knowledge-resources/what-is-dual-listing
[5] https://www.fool.com/terms/d/dual-listing/
[6] https://www.investopedia.com/terms/d/duallisting.asp
[7] https://www.moomoo.com/au/learn/detail-what-are-dual-listing-and-secondary-listing-72515-220843213
[8] https://en.wikipedia.org/wiki/Cross_listing