Magic Empire Global Limited Announces Receipt Of Nasdaq Notification Regarding Minimum Bid Price Deficiency
Portfolio Pulse from Benzinga Newsdesk
Magic Empire Global Limited (MEGL) received a Nasdaq notification on February 28, 2024, for failing to meet the minimum bid price requirement of $1 per share from January 16, 2024, to February 27, 2024, under Nasdaq Listing Rules 5550(a)(2).
March 01, 2024 | 9:09 pm
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Magic Empire Global Limited was notified by Nasdaq for not maintaining the minimum bid price of $1 per share, risking its continued listing.
Receiving a notification from Nasdaq about failing to meet the minimum bid price requirement directly impacts MEGL's stock by increasing the risk of delisting. This can lead to negative investor sentiment and potentially decrease the stock's value in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100