X3 Holdings Announces Receipt Of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency
Portfolio Pulse from Benzinga Newsdesk
X3 Holdings Co., Ltd. (NASDAQ:XTKG) received a Nasdaq notification for not meeting the minimum bid price requirement. The company's shares have been below $1.00 for over 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). X3 Holdings has until October 7, 2024, to regain compliance by ensuring its share price is at least $1.00 for 10 consecutive trading days. The company plans to take measures to improve its financial position and trading price to address this issue.
April 11, 2024 | 12:11 pm
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X3 Holdings received a Nasdaq notification for failing to meet the minimum bid price, with a deadline until October 7, 2024, to regain compliance.
Receiving a notification from Nasdaq about failing to meet the minimum bid price requirement is a significant negative indicator for a company's stock. It suggests underlying financial or operational weaknesses that have led to a sustained low share price. The potential for delisting can further erode investor confidence and lead to a decrease in stock price in the short term. However, the company's intention to take measures to improve its financial position and trading price may mitigate some of the negative impact if investors believe in the feasibility and effectiveness of these measures.
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