Infobird Co., Ltd Announces Receipt Of Delinquency Notification Letter From Nasdaq
Portfolio Pulse from Benzinga Newsdesk
Infobird Co., Ltd (NASDAQ:IFBD) has received a delinquency notification letter from Nasdaq for not complying with the minimum bid price requirement. The company's shares have been trading below $1.00 for 30 consecutive business days, violating Nasdaq's Listing Rules. Infobird has until March 11, 2024, to regain compliance, during which its shares will continue to trade on the Nasdaq Capital Market.
September 18, 2023 | 7:32 pm
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Infobird's failure to meet the minimum bid price requirement could potentially lead to its delisting from Nasdaq. The company has until March 11, 2024, to regain compliance.
The receipt of a delinquency notification from Nasdaq is a serious matter for any listed company. It indicates that Infobird has not been able to maintain the minimum bid price of $1.00 per share for 30 consecutive business days, which is a requirement for continued listing. If the company fails to regain compliance by March 11, 2024, it may face delisting, which could negatively impact its stock price and investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100