Thndr Claps » U.S. Claps » Tech 📲 » SWVL risks being delisted ❌
The ClapSWVL (NASDAQ: SWVL) received a letter from NASDAQ as they are not currently complying with one of the regulations.
The DeetsThe ride-hailing company’s stock closing price has been less than $1 for 30 consecutive days, something the NASDAQ does not like.
In order to regain compliance, the company must have a closing price of over $1 for 10 consecutive business days.
So whatListing on the stock exchange is one of the company’s top priorities. The company will look at other alternatives to fix the situation in case it is unable to comply with NASDAQ’s regulation.
Now WhatSWVL has until May 1st 2023 to drive its share price up somehow, or perform a reverse stock split where it combines existing shares to make fewer shares at a higher price.
Otherwise, the company risks being delisted.
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