Why Evogene Shares Are Moving
Portfolio Pulse from Henry Khederian
Evogene Ltd (NASDAQ:EVGN) shares are trading lower after receiving a letter from Nasdaq indicating non-compliance with the minimum bid price rule. If the company fails to demonstrate compliance by March 18, 2024, its shares may be delisted. Evogene is considering options to address this issue, including a possible reverse share split.
September 21, 2023 | 3:24 pm
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Evogene's share price is falling due to a warning from Nasdaq about non-compliance with the minimum bid price rule. The company may face delisting if it doesn't comply by March 2024.
The news of non-compliance with Nasdaq's minimum bid price rule has led to a drop in Evogene's share price. If the company fails to comply by the given deadline, it may face delisting, which would significantly impact its market presence and investor confidence. The company's consideration of a reverse share split indicates its seriousness in addressing this issue.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100