Why Interactive Strength (TRNR) Stock Is Up Over 70%
Portfolio Pulse from Henry Khederian
Interactive Strength Inc (NASDAQ:TRNR) shares surged by 75% to $0.60 after the company received a letter from the Nasdaq Hearings Panel granting its request for continued listing on the Nasdaq Stock Market. The company had been non-compliant with Nasdaq’s minimum equity requirement but successfully appealed a delisting notice. TRNR has until November 14 to meet the requirement. CEO Trent Ward is optimistic about regaining compliance by reporting third-quarter earnings and noted that the company would have met the equity rule for the quarter ending June 30, 2024, following a recent equity offering.
August 12, 2024 | 7:13 pm
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Interactive Strength Inc (NASDAQ:TRNR) shares surged by 75% after the company received a letter from the Nasdaq Hearings Panel granting its request for continued listing on the Nasdaq Stock Market. The company has until November 14 to meet the minimum equity requirement.
The news of continued listing on the Nasdaq Stock Market is a significant positive development for TRNR, as it alleviates immediate delisting concerns and provides the company with a timeline to meet the equity requirement. This has led to a substantial increase in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100