As I understand:
Suspension
A stoppage in the trading of a share for a period of time. The most common reason for suspension is due to a lack of publicly available, relevant and current financial information on the company. Once the shares are suspended, it cannot be traded on the market until the suspension is lifted or lapses. Suspended trading means that an exchange has temporarily stopped trading in a particular stock or other security. Trading is typically halted either because an important piece of information about the issuing company is about to be released or because there's a serious imbalance between buy and sell orders, often triggered by speculation. The suspension, or trading halt, provides time for the marketplace to absorb the announcement, good or bad, and helps reduce volatility in the stock price.
Examples of news that could cause a suspension are a poorer than expected earnings report, a major innovation or discovery, a merger, or significant legal problems. The Exchange can also suspend trading in the stock of a company it suspects of misleading or illegal activity.
Delisting
The success of a stock exchange depends largely on investors' confidence in the stocks it trades on. So, to maintain investors' confidence, the major exchanges allow only public companies that meet specific requirements to list on the exchange. If a company messes up, the exchange will kick the company out of its exclusive club. Delisting doesn't necessarily mean that a company is going to go bankrupt. Just as there are plenty of private companies that survive without the stock market, it is possible for a company to be delisted and still be profitable. However, delisting can make it more difficult for a company to raise money, and in this respect, it sometimes is a first step towards bankruptcy. For example, delisting may trigger a company's creditors to call in loans, or its credit rating might be further downgraded, increasing its interest expenses and potentially even pushing it into the red. As a shareholder, you should seriously revisit your investment decision in a company that has become delisted; in many cases, it may be better to cut your losses. A firm unable to meet the listing requirements of the exchange upon which it is traded is quite obviously not in a great position. Therefore, if a company that you own is delisted, it may not spell inevitable doom, but it is certainly a black mark on that company's reputation and, if the company can't recover, a sign of diminishing returns down the road.
