This delisting warning is due to the company not being compliant with Nasdaq Listing Rule 5250(c)(1). This required the company to file its 10-Q by November 14, 2023.
Minim acknowledges its inability to file that report on time in a filing the following day. It doesn’t say when it will file it but plans to do so as soon as possible.
With this notice from the Nasdaq Exchange, Minim has 60 days to submit a plan to regain compliance. If that plan is approved, the exchange may give the company another 180 days to put that plan into action. If it fails to do so, there’s still the possibility that it could get another 180-day extension to complete its plan to regain compliance.
What This Means for MINM Stock
Since this is simply a warning, Minim isn’t in danger of being delisted anytime soon. It at least has 60 days to submit a plan and could get even more time depending on the Nasdaq’s response to that plan.
The news surrounding MINM stock today brings with it heavy trading of the company’s shares. As of this writing, around 44 million units are on the move. That’s a massive increase in trading volume compared to its daily average of about 138,000 shares.
MINM stock is up 777.7% as of Thursday morning. This gain also has it up 77.5% year-to-date (YTD).
Investors who want more of the most recent stock market stories are in the right place!
InvestorPlace is home to all of the hottest stock market news traders need to know about on Thursday! A few examples include why shares of QuantumScape (NYSE:QS), ImmunoGen (NASDAQ:IMGN) and Robinhood (NYSE:HOOD) stock are in the news today. You can catch up on these matters at the links below!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.