Powerbridge Technologies Co., Ltd. Requested A Hearing Before The Nasdaq Hearings Panel After Received A Letter Of Expected Delisting Determination From Nasdaq Staff
Portfolio Pulse from Benzinga Newsdesk
Powerbridge Technologies Co., Ltd. (PBTS) has requested a hearing with the Nasdaq Hearings Panel after receiving a notice of expected delisting due to non-compliance with the minimum bid price requirement. PBTS previously regained compliance but has since fallen below the $1.00 bid price threshold again. The company is seeking an extension to meet the Nasdaq's continued listing standards.
December 21, 2023 | 9:34 pm
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PBTS is facing potential delisting from Nasdaq due to non-compliance with the minimum bid price rule and has requested a hearing for an extension.
The news of potential delisting and the request for a hearing indicates uncertainty regarding PBTS's ability to maintain its Nasdaq listing. This regulatory issue, combined with the stock's struggle to meet the minimum bid price requirement, is likely to negatively impact investor confidence and the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100