Cyngn Granted Extension For Continued Listing On Nasdaq
Portfolio Pulse from Benzinga Newsdesk
Cyngn Inc. (CYN) has been granted a 180-day extension by Nasdaq to continue its listing on the Nasdaq Capital Market. The company must meet the $1 minimum bid price per share requirement by August 19, 2024, to maintain compliance. Cyngn's CEO, Lior Tal, expressed commitment to resolving the compliance issue and maximizing shareholder value.
February 21, 2024 | 9:26 pm
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POSITIVE IMPACT
Cyngn Inc. has received a 180-day extension to meet Nasdaq's minimum bid price requirement, aiming to maintain its listing and enhance shareholder value.
The extension provides Cyngn with additional time to meet Nasdaq's listing requirements, which could positively influence investor confidence and the company's stock price in the short term. The commitment expressed by the CEO to address the compliance issue and maximize shareholder value further supports a positive outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100