Why Allarity Therapeutics (ALLR) Stock Is Getting Hammered
Portfolio Pulse from Henry Khederian
Allarity Therapeutics Inc (NASDAQ:ALLR) shares dropped by 28.40% to $0.32 after receiving a noncompliance letter from Nasdaq for failing to maintain a minimum bid price of $1 per share for 30 consecutive business days. The company plans to appeal the decision, temporarily preventing suspension and delisting.
June 24, 2024 | 8:28 pm
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Allarity Therapeutics Inc (NASDAQ:ALLR) shares dropped by 28.40% to $0.32 after receiving a noncompliance letter from Nasdaq for failing to maintain a minimum bid price of $1 per share for 30 consecutive business days. The company plans to appeal the decision, temporarily preventing suspension and delisting.
The noncompliance letter from Nasdaq and the significant drop in share price indicate a negative short-term impact on ALLR. The uncertainty surrounding the appeal process adds to the negative sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100