Mobiquity Technologies, Inc. Announces 1-For-15 Reverse Stock Split And Extension From Nasdaq Hearings Panel
Portfolio Pulse from Happy Mohamed
Mobiquity Technologies, Inc. (NASDAQ:MOBQ) has announced a 1-for-15 reverse stock split to maintain compliance with Nasdaq's minimum bid price requirement. The company's common stock will begin trading on a split-adjusted basis from August 7, 2023. Mobiquity had previously received a delist letter from Nasdaq for non-compliance with the minimum stockholders' equity requirement. However, after presenting its plan to regain compliance, the company was granted an extension through November 14, 2023, by the Nasdaq Hearings Panel.
August 04, 2023 | 3:25 pm
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NEUTRAL IMPACT
Mobiquity's reverse stock split is a strategy to maintain its Nasdaq listing. The company has also regained compliance with Nasdaq's minimum stockholders' equity requirement and has been granted an extension to demonstrate long-term compliance.
The reverse stock split is a strategy to increase the market price of Mobiquity's shares, thus maintaining its Nasdaq listing. The company's successful demonstration of compliance with Nasdaq's equity requirement and the granted extension also indicate a positive outlook for the company's continued listing. However, the impact on the stock price in the short term is uncertain as it depends on investor reaction to these developments.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100