Society Pass Inc Granted Extension until 20 May 2024 To Regain Compliance With Nasdaq Listing Rules
Portfolio Pulse from Benzinga Newsdesk
Society Pass Inc. (NASDAQ:SOPA) has received an extension until May 20, 2024, to regain compliance with NASDAQ's minimum $1.00 per share bid price requirement. The extension, filed with the SEC, allows SOPA additional time to meet the Minimum Bid Price Rule while complying with other listing requirements. CEO Ray Liang expressed commitment to strategic initiatives aimed at regaining compliance.
November 24, 2023 | 1:18 pm
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Society Pass Inc. has been granted an extension by NASDAQ to regain compliance with the minimum bid price rule by May 20, 2024, which may positively influence investor confidence.
The extension provides Society Pass Inc. with a significant period to work on increasing its stock price above the $1.00 minimum bid price requirement. This news is likely to be viewed positively by investors as it reduces the immediate risk of delisting and shows NASDAQ's confidence in SOPA's ability to meet listing standards. However, the company still needs to actively work on improving its stock price, which introduces some uncertainty.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100