Secoo Receives Delisting Notice From Nasdaq And Plans To Request Hearing
Portfolio Pulse from Benzinga Newsdesk
Secoo Holding Limited has received a delisting notice from Nasdaq due to non-compliance with the minimum bid price requirement. The company plans to request a hearing with the Nasdaq Hearings Panel to present its plan for regaining compliance and to request a stay of the delisting. During this process, Secoo's shares will continue to be listed and traded on the Nasdaq.
November 17, 2023 | 9:31 pm
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NEGATIVE IMPACT
Secoo Holding Limited has been notified by Nasdaq of potential delisting due to not meeting the minimum bid price requirement. The company intends to appeal the decision and request a stay of delisting while it works to regain compliance.
The delisting notice is a significant negative event indicating that Secoo is not meeting Nasdaq's listing requirements, which could undermine investor confidence and lead to a decrease in the stock price in the short term. However, the company's intention to request a hearing and present a compliance plan may provide some temporary support to the stock price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100