Genetic Technologies Regains Compliance With Nasdaq Minimum Bid Price Requirement
Portfolio Pulse from Benzinga Newsdesk
Genetic Technologies (GENE) has regained compliance with the Nasdaq's minimum bid price requirement. The company's stock had previously been at risk of being delisted due to its share price falling below the required minimum bid price of $1.00 for an extended period. However, GENE has managed to maintain a closing bid price at or above $1.00 for at least ten consecutive business days, which has brought it back into compliance with Nasdaq's listing rules.
January 05, 2024 | 1:27 pm
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Genetic Technologies has successfully regained compliance with the Nasdaq minimum bid price requirement, avoiding the risk of delisting.
Regaining compliance with Nasdaq's minimum bid price requirement is a significant positive development for Genetic Technologies. It removes the immediate threat of delisting, which can be a major concern for shareholders and potential investors. This news is likely to instill confidence in the market regarding GENE's ability to maintain its listing and could potentially lead to a positive short term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100