Treasure Global Says On Feb 15, Co Received Notice From Nasdaq That Co Is Not Been Compliance With Minimum Bid Price Requirement; On February 16, 2024, Company Submitted Hearing Request To Panel To Appeal Nasdaq's Determination And Submit Compliance Plan
Portfolio Pulse from Benzinga Newsdesk
Treasure Global (TGL) received a notice from Nasdaq on February 15, indicating non-compliance with the minimum bid price requirement. The company appealed this determination on February 16, 2024, by submitting a hearing request and a compliance plan to Nasdaq, as per an SEC filing.
February 16, 2024 | 9:07 pm
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NEGATIVE IMPACT
Treasure Global received a non-compliance notice from Nasdaq regarding the minimum bid price requirement and has appealed the decision.
Receiving a non-compliance notice from Nasdaq typically has a negative impact on investor confidence and can lead to a decrease in stock price in the short term. The appeal and submission of a compliance plan indicate that the company is taking steps to address the issue, but the uncertainty surrounding the outcome of the appeal and the effectiveness of the compliance plan can still negatively affect the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100