Farmmi Receives NASDAQ Notification Regarding Minimum Bid Requirements
Portfolio Pulse from Benzinga Newsdesk
Farmmi, Inc. (NASDAQ:FAMI), a supplier of agriculture products in China, received a notification from Nasdaq on April 22, 2024, for not meeting the minimum bid price requirement. The company's shares fell below $1.00 for 32 consecutive days. Farmmi has until October 21, 2024, to regain compliance by maintaining a closing bid price of at least $1.00 for 10 consecutive business days. Failure to comply may lead to an additional 180-day grace period.
April 26, 2024 | 8:30 pm
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Farmmi, Inc. received a Nasdaq non-compliance notice for its share price falling below $1.00 for 32 consecutive days, with a deadline until October 21, 2024, to regain compliance.
Receiving a non-compliance notification from Nasdaq is a significant negative indicator for a company. It suggests underlying issues that could deter investors, leading to a potential decrease in stock price in the short term. The urgency to regain compliance might pressure the company, affecting its stock performance negatively.
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