Origin Agritech Says It Has Submitted An Appeal To Nasdaq's Listing Qualifications Department To Request A Further Extension Of Time And Present Its Plan To Regain Compliance With Nasdaq Listing
Portfolio Pulse from Benzinga Newsdesk
Origin Agritech has appealed to Nasdaq's Listing Qualifications Department for an extension of time to present its plan to regain compliance with Nasdaq's listing requirements.
January 18, 2024 | 11:10 am
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NEGATIVE IMPACT
Origin Agritech, trading under the ticker SEED, is seeking an extension from Nasdaq to meet listing requirements, which may affect investor confidence and stock price.
The appeal for an extension to meet Nasdaq's listing requirements suggests that Origin Agritech is currently non-compliant. This situation can lead to negative investor sentiment and potential delisting if compliance is not achieved, which typically results in a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100