Quantum Updates On Plan To Regain Nasdaq Compliance; Says Quarterly Report On Third Fiscal Quarter 10-Q Will Also Be Delayed
Portfolio Pulse from Benzinga Newsdesk
Quantum Corporation has announced a plan to regain compliance with Nasdaq listing requirements. The company also indicated that its quarterly report for the third fiscal quarter (10-Q) will be delayed. Quantum expects to receive an extension of up to 180 days from the original due date to regain compliance, which would extend the deadline to May 7, 2024.
January 17, 2024 | 10:10 pm
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Quantum Corporation is working on a plan to regain Nasdaq compliance and has announced a delay in its third fiscal quarter report. The company may receive an extension until May 7, 2024, to meet the requirements.
The delay in filing the quarterly report and the need to regain compliance with Nasdaq could be viewed negatively by investors, potentially leading to a short-term decline in Quantum's stock price. The announcement shows that the company is taking steps to address the issue, but the uncertainty and potential for non-compliance may weigh on investor sentiment.
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