Too much hype about Nasdaq listingIt makes a lot of sense for large-cap profitable companies to list on Nasdaq. For most loss incurring small caps that have to do massive reverser split it does not make sense to list on Nasdaq. The listing cost adds an additional financial burden and the in a lot of cases the old pre-split shareholders get totally destroyed and the chances of recovery of their money is substantially reduced.
There is too much hype for Nasdaq listing and most managers are reckless and clueless with listing timing. Instead of protecting their loyal shareholders, they throw them under the bus. The reverse split should be avoided at all costs because in most cases it does not work. If the share price is in a dumpster then that company is not mature enough or the right time for it to list on the exchange. While the company will get more shareholders with a dual listing they will also attract bigger sharks that will destroy the share price by shorting the company when it underperforms. .
Definitely bad timing for VLNS and poor management judgment. The whole sector is collapsing and the share price after consolation has dropped below the first threshold requirement and still, there is one month of tax-loss selling left, which can cause further pressure on the stock. There are still lower listing thresholds available for listing. They should have expected tax-loss selling for the whole sector and should have targeted the listing nest year or when their financials and share price had improved.
This company was not ready for listing and the management has horribly mismanaged the timing and destroyed its long-term shareholders. .
https://www.investopedia.com/ask/answers/nasdaq-listing-requirements/#listing-requirements-for-all-companies