Yunji Receives Approval To Transfer To Nasdaq Capital Market
Portfolio Pulse from Benzinga Newsdesk
Yunji Inc. (NASDAQ:YJ), a social e-commerce platform, has received approval from Nasdaq to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market effective April 5, 2024. This move comes after Yunji was notified of non-compliance with Nasdaq's minimum bid price requirement. The transfer grants Yunji an additional 180 days, until September 30, 2024, to meet the minimum bid price requirement of $1.00 per ADS for 10 consecutive business days. Yunji is considering options, including a reverse stock split, to regain compliance.
April 04, 2024 | 12:13 pm
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Yunji Inc. has been approved to transfer its listing to the Nasdaq Capital Market, providing additional time to meet Nasdaq's minimum bid price requirement.
The transfer to the Nasdaq Capital Market is a strategic move that provides Yunji with additional time to address its non-compliance with the minimum bid price requirement. This development could be viewed positively by investors as it shows the company's proactive approach to maintaining its listing status and potentially improving its stock price to meet Nasdaq's requirements. The consideration of options like a reverse stock split to regain compliance further indicates the company's commitment to meeting Nasdaq's standards.
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