MicroAlgo (MLGO) said in a regulatory filing Monday that it has been notified that it is not in compliance with Nasdaq's minimum bid price requirement of $1 per share.
The company has 180 calendar days, or until March 24 to regain compliance. It may be eligible for an additional 180-day compliance period subject to determination by the bourse's listing qualifications department.
MicroAlgo said it plans to take "all reasonable measures to regain compliance."
Shares of the company soared over 44% in premarket activity Tuesday, after closing 1.7% lower in regular trading Monday.
Price: 0.29, Change: +0.09, Percent Change: +44.15
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