Cenntro Regains Compliance With Nasdaq Minimum Bid Price Rule
Portfolio Pulse from Benzinga Newsdesk
Cenntro Electric Group Limited (CENN) has regained compliance with the Nasdaq's minimum bid price requirement. The company's stock had maintained a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days, which is the threshold for compliance with Nasdaq's listing rule.
December 26, 2023 | 9:30 pm
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Cenntro Electric Group Limited's stock has met Nasdaq's minimum bid price requirement, which could improve investor confidence and potentially lead to a more stable stock price in the short term.
Regaining compliance with Nasdaq's minimum bid price rule is a positive development for Cenntro Electric Group. It removes the immediate threat of delisting, which can be a significant concern for investors and can negatively impact stock price. With this compliance, the risk of delisting is mitigated, which may lead to increased investor confidence and support for the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100