MicroAlgo Inc. Faces Nasdaq Delisting Threat: What Investors Need to Know
MicroAlgo Inc. (NASDAQ: MLGO), a leading computer programming services company, has received a notification from the Nasdaq Stock Market regarding its failure to meet the minimum bid price requirement for continued listing on the exchange. This notification was issued on September 23, 2024, after the closing bid price of MicroAlgo's security fell below $1.00 per share for 31 consecutive business days.
Despite this development, MicroAlgo's listing and trading on the Nasdaq Capital Market remain unaffected. The company now has a 180-day grace period, ending on March 24, 2025, to regain compliance with Nasdaq's Listing Rule 5550(a)(2). During this period, the closing bid price of MicroAlgo's stock must be maintained at or above $1.00 for at least ten consecutive business days.
Failure to meet this requirement by the March deadline could result in MicroAlgo being granted an additional 180-day period to regain compliance, subject to Nasdaq staff's discretion. The company has assured stakeholders that the notification will not disrupt its business operations and that it is committed to taking necessary steps to meet Nasdaq's minimum bid price requirement.
In conclusion, investors in MicroAlgo Inc. should closely monitor the company's stock performance in the coming months to assess its ability to regain compliance with Nasdaq's listing requirements. This development underscores the importance of staying informed about regulatory matters that can impact an investment's value and marketability.