Meiwu Technology Company Limited Received Nasdaq Delisting Determination
Portfolio Pulse from Benzinga Newsdesk
Meiwu Technology Company Limited (WNW) received a Nasdaq delisting determination due to its securities closing at a bid price of $0.10 or less for ten consecutive trading days. The company plans to appeal the decision and is working on a compliance plan to present to the Nasdaq Hearings Panel. If no appeal is requested, WNW's securities will be suspended on December 5, 2023.
November 29, 2023 | 9:28 pm
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Meiwu Technology's stock is at risk of being delisted from Nasdaq due to non-compliance with the minimum bid price requirement. The company intends to appeal the decision.
The delisting notice is a significant negative event indicating that the company is not meeting Nasdaq's listing requirements. The potential delisting could reduce the stock's liquidity and accessibility, likely leading to a negative short-term impact on the stock price. The company's intention to appeal provides some uncertainty, but the immediate reaction to delisting news is typically negative.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100