ETAO Receives Staff Determination Letter, On December 13, 2023, From Listing Qualifications Department Of Nasdaq
Portfolio Pulse from Benzinga Newsdesk
ETAO has received a Staff Determination Letter from Nasdaq's Listing Qualifications Department due to non-compliance with the bid price requirement. The company failed to regain compliance within the given timeframe and is ineligible for an additional 180-day period. ETAO plans to appeal the delisting determination and is preparing a plan to present to the Panel to regain compliance.
December 18, 2023 | 9:48 pm
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ETAO received a delisting notice from Nasdaq for not meeting the bid price requirement. The company will appeal the decision and is working on a compliance plan.
Receiving a Staff Determination Letter from Nasdaq is a significant negative regulatory event indicating non-compliance with listing requirements. The uncertainty surrounding the appeal and the company's ability to regain compliance is likely to negatively impact investor confidence and the stock price in the short term.
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