Locafy Granted Continued Listing On Nasdaq
Portfolio Pulse from Happy Mohamed
Locafy Limited (NASDAQ:LCFY) has been granted an exception to Nasdaq Listing Rule 5550(b)(1) regarding the minimum stockholders' equity required for continued listing on Nasdaq until October 31, 2023, subject to certain conditions. The company believes it has regained compliance with the Stockholders' Equity Requirement due to cost-cutting measures and capital allocation prioritization efforts. It also announced a promising Keystone SEO technology agreement with a U.S.-based media publisher.
August 28, 2023 | 12:07 pm
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POSITIVE IMPACT
Locafy has been granted an exception for continued listing on Nasdaq, indicating that it has regained compliance with the Stockholders' Equity Requirement. This, along with a promising technology agreement, could positively impact the company's stock.
The news of Locafy regaining compliance with Nasdaq's equity requirements and the promising technology agreement could boost investor confidence, potentially leading to a short-term increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100