NuZee Receives Nasdaq Notification Of Non-Compliance
Portfolio Pulse from Benzinga Newsdesk
NuZee, Inc. has received a notification from Nasdaq regarding its non-compliance with the minimum bid price requirement. The company's stock, NUZE, has been trading below the required $1.00 minimum bid price for 30 consecutive business days. NuZee now has a compliance period of 180 calendar days to regain compliance by having its common stock's closing bid price meet or exceed $1.00 for at least ten consecutive business days.
February 29, 2024 | 9:23 pm
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NuZee, Inc. received a Nasdaq non-compliance notice for its stock trading below the $1.00 minimum bid price for 30 consecutive days. The company has 180 days to regain compliance.
Receiving a notification of non-compliance from Nasdaq is a significant regulatory event that can negatively impact investor confidence and the stock's price. The requirement to regain compliance by increasing the stock price to $1.00 or above within 180 days adds pressure on the company. Failure to meet this requirement could lead to further negative consequences, including potential delisting. Therefore, this news is likely to have a short-term negative impact on NUZE's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100