Meiwu Technology Company Limited has recently received a notification letter from Nasdaq regarding bid price deficiency. According to the letter, the company’s bid price for its common stock has fallen below the minimum $1.00 per share requirement for continued listing on the Nasdaq Capital Market.
In response to this notification, Meiwu Technology Company Limited has been granted a 180-calendar-day grace period to regain compliance with Nasdaq’s minimum bid price rule. During this period, the company’s common stock will continue to be listed and traded on the Nasdaq Capital Market.
In order to regain compliance, the company will need to achieve a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days before the end of the grace period. If Meiwu Technology Company Limited is unable to meet this requirement within the given timeframe, its common stock may be subject to delisting from the Nasdaq Capital Market.
Meiwu Technology Company Limited is committed to regaining compliance with Nasdaq’s bid price rule and is exploring strategic options to improve its financial performance and increase shareholder value. The company remains confident in its business operations and growth prospects, and is working diligently to address the bid price deficiency issue.
Investors and stakeholders of Meiwu Technology Company Limited are advised to monitor the company’s stock performance and any updates regarding its compliance efforts with Nasdaq’s bid price rule. The company will provide timely updates on its progress towards regaining compliance and its continued listing on the Nasdaq Capital Market.
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