Post by
pennyflipping on Nov 05, 2023 9:16pm
POETs Nasdaq days are numbered?
How long before shear holders need to add another worry to the ever expanding list of worries?
A stock listed on the Nasdaq must maintain certain minimum requirements to remain listed. Specifically, there is a minimum bid price requirement, which is set at $1 per share. If a company's stock trades below this threshold for 30 consecutive trading days, Nasdaq will issue a deficiency notice to the company.
Upon receiving this notice, the company has a 180-calendar day grace period to regain compliance. To do so, the stock must have a minimum bid price of $1 or more for at least ten consecutive business days within this period. If the company fails to meet these requirements, it is subject to delisting according to Nasdaq's rules.
Comment by
jboom70 on Nov 06, 2023 6:42am
Shorts will drive this under $1 usd. They need to have a number for the money raise or this will continue. Nuts the way they announced it, asking for pain!