Jiuzi Holdings Received Nasdaq Notification Letter Regarding Bid Price Deficiency
Portfolio Pulse from Benzinga Newsdesk
Jiuzi Holdings Inc. (JZXN) received a Nasdaq notification for not meeting the minimum bid price requirement as its shares traded below $1.00 for 30 consecutive days. The company has until May 6, 2024, to regain compliance, which can be achieved if its share price closes at $1.00 or higher for 10 consecutive business days. If JZXN fails to comply within 180 days, it may get an additional 180 days to meet the requirements, potentially through a reverse stock split.
November 17, 2023 | 4:31 pm
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NEGATIVE IMPACT
Jiuzi Holdings Inc. is at risk of Nasdaq delisting due to its share price falling below the $1 minimum bid price requirement. The company has a 180-day period to regain compliance, with a possible extension of another 180 days.
The notification from Nasdaq is a negative signal to investors and could lead to a decrease in investor confidence, potentially causing short-term downward pressure on the stock price. The risk of delisting can also lead to increased volatility. However, the company has time to address the issue, which provides a slight buffer against immediate negative impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100