Rubicon Receives Notice Of Non-Compliance With NYSE Trading Share Price And Market Capitalization Listing Rules
Portfolio Pulse from Happy Mohamed
Rubicon Technologies, Inc. (NYSE:RBT) received a notice from the NYSE on March 18, 2024, for non-compliance with trading share price and market capitalization listing rules. The company's market capitalization and stockholders' equity fell below $50 million, and its average stock price was under $1.00 over 30 trading days. Rubicon plans to notify the NYSE by April 1, 2024, of its intention to cure these deficiencies and regain compliance.
March 22, 2024 | 8:20 pm
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Rubicon Technologies, Inc. received a NYSE non-compliance notice due to low market cap and share price, but intends to regain compliance.
Receiving a notice of non-compliance from the NYSE typically has a negative impact on investor confidence and can lead to a decrease in stock price in the short term. The company's commitment to regain compliance might mitigate some concerns, but the immediate reaction is likely to be negative due to the uncertainties involved.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100