CN Energy Group. Inc. Announces Nasdaq Delisting Notification And Intends To Appeal
Portfolio Pulse from Benzinga Newsdesk
CN Energy Group, Inc. (CNEY) received a delisting notification from Nasdaq due to non-compliance with the minimum bid price requirement. The company's stock had a closing bid price of $0.10 or less for ten consecutive days. CNEY has requested a hearing to appeal the delisting, which will stay the suspension and Form 25-NSE filing pending the Panel's decision. There is no assurance of a successful outcome for the appeal.
January 05, 2024 | 10:03 pm
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NEGATIVE IMPACT
CNEY received a delisting notice from Nasdaq due to a low bid price and has appealed the decision. The appeal process delays the suspension and delisting, but the outcome remains uncertain.
The delisting notice is a significant negative event indicating that CNEY is not meeting Nasdaq's minimum requirements. While the appeal delays immediate consequences, the uncertainty surrounding the outcome is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100