MicroAlgo Gets Nasdaq Minimum Bid Price Warning
Ticker: VENAF · Form: 6-K · Filed: Sep 23, 2024 · CIK: 1800392
Sentiment: bearish
Topics: listing-compliance, minimum-bid-price, delisting-risk
Related Tickers: MLGO
TL;DR
MLGO got a Nasdaq warning for low stock price, needs to hit $1 for 10 days in 180 days or face delisting.
AI Summary
MicroAlgo Inc. received a minimum bid price notice from Nasdaq on September 23, 2024, stating the company's stock has traded below $1.00 for 31 consecutive business days. The company is now non-compliant with Nasdaq Listing Rule 5550(a)(2). MicroAlgo has 180 calendar days to regain compliance by having its closing bid price meet or exceed $1.00 for a minimum of 10 consecutive business days.
Why It Matters
This notice indicates potential delisting from Nasdaq if the company cannot raise its stock price, which could impact investor confidence and liquidity.
Risk Assessment
Risk Level: medium — The company faces a risk of delisting from Nasdaq if it cannot meet the minimum bid price requirement within the specified timeframe.
Key Numbers
- $1.00 — Minimum Bid Price (The threshold MicroAlgo must meet to regain compliance with Nasdaq listing rules.)
- 31 — Consecutive Days Below Minimum (The period during which MicroAlgo's closing bid price has been below $1.00.)
- 180 — Compliance Period (The maximum number of days MicroAlgo has to achieve compliance.)
- 10 — Consecutive Days to Comply (The minimum number of consecutive days MicroAlgo's bid price must be at or above $1.00 to regain compliance.)
Key Players & Entities
- MicroAlgo Inc. (company) — The company that received the notice.
- Nasdaq (company) — The stock exchange that issued the notice.
- September 23, 2024 (date) — Date of the notification from Nasdaq.
- $1.00 (dollar_amount) — The minimum bid price required by Nasdaq.
- 31 (number) — Number of consecutive business days the stock traded below $1.00.
- 180 (number) — Number of calendar days the company has to regain compliance.
- 10 (number) — Number of consecutive business days the stock must trade at or above $1.00 to regain compliance.
FAQ
What is the specific rule MicroAlgo Inc. is non-compliant with?
MicroAlgo Inc. is non-compliant with Nasdaq Listing Rule 5550(a)(2), which requires a minimum closing bid price of $1.00 per share.
When did MicroAlgo Inc. receive the notification from Nasdaq?
MicroAlgo Inc. received the written notification from Nasdaq on September 23, 2024.
How long has MicroAlgo Inc.'s stock been trading below the minimum bid price?
MicroAlgo Inc.'s stock has traded below the minimum bid price of $1.00 for the last 31 consecutive business days.
What is the deadline for MicroAlgo Inc. to regain compliance with Nasdaq's minimum bid price rule?
MicroAlgo Inc. has 180 calendar days from the date of the notification (September 23, 2024) to regain compliance.
What action must MicroAlgo Inc. take to regain compliance?
MicroAlgo Inc. must have its closing bid price meet or exceed $1.00 for a minimum of 10 consecutive business days within the 180-day compliance period.
Filing Stats: 378 words · 2 min read · ~1 pages · Grade level 13.9 · Accepted 2024-09-23 17:00:10
Key Financial Figures
- $1.00 — ty was below the minimum bid price of US$1.00 per share requirement set forth in Nasd
- $1 — Company’s security is at least US$1 for a minimum of ten consecutive busine
Filing Documents
- microalgo_6k.htm (6-K) — 19KB
- 0001829126-24-006408.txt ( ) — 20KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. MicroAlgo Inc. By: /s/ Min Shu Name: Min Shu Title: Chief Executive Officer Date: September 23, 2024 2