C3is Inc. Announces Receipt Of Nasdaq Notice That The Company Is Not In Compliance With Nasdaq Listing Rule 5550(a)(2)
Portfolio Pulse from Happy Mohamed
C3is Inc. (NASDAQ:CISS) has received a notice from Nasdaq indicating that it is not in compliance with Nasdaq Listing Rule 5550(a)(2) due to its stock's closing bid price being below $1.00 per share for 30 consecutive business days. The company has a grace period of 180 days to regain compliance. The company's operations are not affected by this notice.
August 25, 2023 | 8:13 pm
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NEGATIVE IMPACT
C3is Inc. has received a notice from Nasdaq for not complying with the minimum bid price requirement. The company has 180 days to regain compliance.
The news of non-compliance with Nasdaq's listing rule could negatively impact investor sentiment, potentially leading to a decrease in the company's stock price in the short term. However, the company has a grace period of 180 days to regain compliance, which could mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100