FangDD Regains Compliance With Nasdaq Minimum Bid Price Requirement
Portfolio Pulse from Happy Mohamed
Fangdd Network Group Ltd. (NASDAQ:DUO) has regained compliance with the Nasdaq minimum bid price requirement. The company had previously been notified of non-compliance as its American depositary shares (ADSs) closed below $1.00 per share for 30 consecutive business days. To regain compliance, the company changed the ratio of its ADSs representing Class A ordinary shares, which became effective on August 4, 2023. Nasdaq confirmed that the company's ADSs have been at $1.00 per share or greater for ten consecutive business days.
August 21, 2023 | 1:03 pm
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Fangdd Network Group Ltd. has regained compliance with the Nasdaq minimum bid price requirement, which could potentially boost investor confidence in the company.
Regaining compliance with Nasdaq's minimum bid price requirement is a positive development for Fangdd Network Group Ltd. This could potentially boost investor confidence in the company, as it indicates that the company is taking steps to maintain its listing status on the Nasdaq. This could potentially have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100