Oblong Granted 180-Day Extension by Nasdaq to Regain Compliance with Bid Price Rule
Portfolio Pulse from Benzinga Newsdesk
Oblong Inc. has been granted a 180-day extension by Nasdaq to regain compliance with the minimum bid price requirement. This extension provides Oblong with additional time to meet Nasdaq's listing rule that requires a minimum bid price of $1.00 per share.
March 20, 2024 | 8:19 pm
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Oblong Inc. has received a 180-day extension from Nasdaq to regain compliance with the minimum bid price rule, aiming to maintain its listing by meeting the $1.00 per share requirement.
The extension is a positive development for Oblong, as it provides the company with additional time to work towards meeting Nasdaq's minimum bid price requirement. This news could be seen as a vote of confidence by Nasdaq in Oblong's potential to regain compliance, which may positively influence investor sentiment and potentially lead to an increase in the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100