CNEY Receives NASDAQ Minimum Bid Price Requirement Extension
Portfolio Pulse from Happy Mohamed
CN Energy Group. Inc. (NASDAQ: CNEY) has been granted an additional 180-day period by NASDAQ to regain compliance under NASDAQ's minimum bid price requirement. The company's Class A ordinary shares need to close at $1.00 or more for a minimum of 10 consecutive business days by January 8, 2024. The company may consider implementing a reverse share split to meet the requirement.
July 24, 2023 | 12:38 pm
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CN Energy Group has been given an extension by NASDAQ to meet the minimum bid price requirement. The company may consider a reverse share split to meet this requirement.
The news is directly related to CN Energy Group and its listing on NASDAQ. The extension to meet the minimum bid price requirement could potentially impact the company's stock price, especially if the company decides to implement a reverse share split. However, the immediate impact is neutral as the company's shares will continue to trade on NASDAQ.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100