The Real Good Food Receives Nasdaq Notice Regarding Minimum Bid Price Requirements
Portfolio Pulse from Benzinga Newsdesk
The Real Good Food Company, Inc. (RGF) has received a notice from Nasdaq regarding its failure to meet the minimum bid price requirement. The company's stock has been trading below $1.00 for a consecutive 30-day period, which is against Nasdaq's listing rules. RGF now has a compliance period of 180 days to regain compliance by having its stock close at or above $1.00 for a minimum of ten consecutive business days.
April 23, 2024 | 8:37 pm
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The Real Good Food Company, Inc. (RGF) has been notified by Nasdaq for not meeting the minimum bid price requirement, risking its listing status.
Receiving a notice from Nasdaq about failing to meet the minimum bid price requirement is a significant negative indicator for a company. It suggests financial instability or investor skepticism about the company's value, which can lead to decreased investor confidence and potentially lower stock prices in the short term. RGF must work to increase its stock price to at least $1.00 for ten consecutive business days within the next 180 days to regain compliance and avoid delisting, which adds pressure on the company.
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