FangDD Receives Nasdaq Notice Regarding Minimum Bid Price Requirement
Portfolio Pulse from Benzinga Newsdesk
Fangdd Network Group Ltd. (NASDAQ:DUO), also known as FangDD, has received a notification from Nasdaq for not meeting the minimum bid price requirement, as its ADSs closed below $1 for 30 consecutive days. The company has until June 10, 2024, to regain compliance, which requires the bid price to be at least $1 for ten consecutive business days. FangDD's ADSs will remain listed on Nasdaq during the grace period, and the company is considering options to address the deficiency.
December 14, 2023 | 1:33 pm
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NEGATIVE IMPACT
FangDD has been notified by Nasdaq of non-compliance with the minimum bid price rule. The company has a 180-day period to regain compliance and will remain listed during this time.
Receiving a notice of non-compliance from Nasdaq is a negative signal to the market, indicating that the company's stock is underperforming. This could lead to decreased investor confidence and potential selling pressure. However, the company has time to regain compliance, which may mitigate the immediate impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100