Qilian International Holding Group Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency
Portfolio Pulse from Happy Mohamed
Qilian International Holding Group Ltd (NASDAQ:QLI), a China-based pharmaceutical and chemical products manufacturer, has received a notification from Nasdaq regarding a minimum bid price deficiency. The company's shares have not met the minimum bid price of $1.00 per share for 30 consecutive business days, violating Nasdaq Listing Rules. Qilian has until January 9, 2024, to regain compliance or face potential delisting. The company's operations are not affected by this notification and it may consider options such as a reverse share split to regain compliance.
July 17, 2023 | 2:31 pm
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Qilian International has received a notification from Nasdaq for not meeting the minimum bid price requirement. The company has until January 9, 2024, to regain compliance or it may face potential delisting.
The news of Qilian International not meeting the minimum bid price requirement set by Nasdaq is a negative signal for investors. This could lead to increased selling pressure on the stock in the short term as investors may fear potential delisting. However, the company has time until January 9, 2024, to regain compliance, which it may do by implementing measures such as a reverse share split.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100