Smart for Life (NASDAQ:SMFL) stock is rocketing higher on Thursday as investors react to an update concerning a delisting notice for the technology company’s shares.
An update from the company notes that it has a hearing meeting with the Nasdaq in March 2024. This delays the delisting of the Smart for Life shares and has them trading again.
Smart for Life also provided details on its plan for the hearing meeting with the Nasdaq. The company intends to submit a plan for how it will regain compliance with Listing Rule 5550(b)(1). This rule concerns the Nasdaq’s equity requirement of $2.5 million.
Smart for Life notes that it is confident in its plan to regain compliance with the Nasdaq listing rule. However, it does make sure to note that there can be no guarantee that the exchange will accept its plan.
SMFL Stock Reactions Today
Following this announcement from the company is heavy trading of SMFL stock today. As of this writing, more than 62 million shares have been traded. That’s a massive increase compared to the company’s daily average trading volume of about 706,000 shares.
SMFL stock is up 237.8% as of Thursday morning but is still down 97.7% year-to-date (YTD).
Investors on the lookout for even more of the latest stock market stories are going to want to stick around!
InvestorPlace is home to all of the hottest stock market news that traders need to know about on Thursday! Among that is what has shares of Salesforce (NYSE:CRM), Mullen Automotive (NASDAQ:MULN) and Clover Health Investments (NASDAQ:CLOV) stock in the news today. You can catch up on these topics at the following links!
More Thursday Stock Market News
- Morgan Stanley Says Salesforce (CRM) Is Headed for Record High
- MULN Stock: Mullen Delivers 38 EVs to Randy Marion. What Comes Next?
- CLOV Stock Alert: Clover Health Announces CFO Departure
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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.
