China Jo-Jo Drugstores Regains Compliance With Nasdaq Minimum Bid Price Requirement
Portfolio Pulse from Benzinga Newsdesk
China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD) has regained compliance with the Nasdaq minimum bid price requirement after its stock price remained at or above $1.00 for 10 consecutive business days. This follows a 1-for-20 reverse stock split effective March 1, 2024, which was part of the company's efforts to meet Nasdaq's listing standards after initially failing to maintain the minimum bid price in June 2023.
March 19, 2024 | 8:12 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
China Jo-Jo Drugstores, Inc. has successfully regained compliance with Nasdaq's minimum bid price requirement, avoiding the risk of delisting.
Regaining compliance with Nasdaq's minimum bid price requirement is a significant positive development for China Jo-Jo Drugstores. It eliminates the immediate risk of delisting, which can have severe consequences for a company's stock liquidity and investor perception. The successful 1-for-20 reverse stock split and the subsequent maintenance of the stock price above $1.00 for 10 consecutive days demonstrate the company's ability to meet regulatory requirements and may restore investor confidence in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100