Agrify Gets Notification Of Non-Compliance From Nasdaq
Portfolio Pulse from Benzinga Newsdesk
Agrify Corporation (AGFY) has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's stock has closed below the minimum $1 per share for 30 consecutive business days. Agrify now has a compliance period of 180 calendar days to regain compliance by maintaining a closing bid price of at least $1 per share for a minimum of 10 consecutive business days.
November 22, 2023 | 9:01 pm
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Agrify Corporation has been notified by Nasdaq of non-compliance with the minimum bid price rule. The stock must reach $1 per share for 10 consecutive days within 180 days to regain compliance.
The notification of non-compliance from Nasdaq is a negative signal to the market, indicating that the company's stock value has been underperforming. This could lead to a decrease in investor confidence and potentially result in further downward pressure on the stock price in the short term. The company must work to increase its stock price to at least $1 to avoid the risk of delisting, which adds a level of uncertainty for investors.
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