Kidpik Regains Compliance with the Nasdaq Minimum Bid Price Requirement
Portfolio Pulse from Benzinga Newsdesk
Kidpik Corp. (NASDAQ:PIK), an online clothing subscription-based e-commerce company, has regained compliance with the Nasdaq Minimum Bid Price Requirement. This was achieved after a 1-for-5 reverse stock split of its outstanding stock, resulting in the closing bid price of Kidpik's common stock being at or above $1.00 per share for 10 consecutive days.
March 25, 2024 | 12:03 pm
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Kidpik Corp. has successfully regained compliance with the Nasdaq Minimum Bid Price Requirement following a 1-for-5 reverse stock split.
Regaining compliance with Nasdaq's Minimum Bid Price Requirement is a positive development for Kidpik Corp. It removes the immediate risk of delisting, which can restore investor confidence and potentially lead to a more favorable market perception of the company. The successful reverse stock split and compliance achievement indicate a proactive management approach to maintaining its stock market listing standards.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100