Earlyworks (NASDAQ:ELWS) stock is rocketing higher on Tuesday as investors celebrate the company regaining listing compliance.
With this, ELWS stock is no longer non-compliant with the minimum bid price required to remain on the Nasdaq Exchange. The exchange sent a formal letter notifying the company that its shares traded above the $1 minimum for 20 business days.
Earlyworks was able to do this with an adjustment to the ratio for its American Depository Shares (ADS). This changed from one ADS representing one normal share to one ADS representing five normal shares.
ELWS Stock Movement Today
With this delisting update, shares of ELWS stock are no longer in danger of being removed from the Nasdaq Exchange. This news has investors excited and with that comes heavy trading. More than 23 million shares have been traded as of this writing, as compared to a daily average of 88,000 shares.
ELWS stock is up 153.3% as of Tuesday afternoon.
There are more stock market stories traders are going to want to read about today!
We have all of the hottest stock market news that investors need to know about on Tuesday! A few examples include what’s going on with shares of Organigram (NASDAQ:OGI), Tencent Music Entertainment (NYSE:TME) stock and more. You can catch up on all of these matters at the links below!
More Tuesday Stock Market News
- Why Is Organigram (OGI) Stock Up 25% Today?
- Tencent News: Why Is TME Stock Plunging 15% Today?
- Stock Market Crash Fears Swirl Ahead of Crucial July CPI Report
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On the date of publication, William White did not have (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.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
