Yilong Luo

Aug 22, 2024 | jdsupra.com | Ryan Adams |Marcia Ellis |Yilong Luo

On August 8, 2024, the Nasdaq Stock Market LLC (“Nasdaq”) submitted a proposal to amend its rules regarding penny stocks (i.e., stocks trading below a $1.00 minimum bid price) to make it easier for Nasdaq to delist them. Penny stock issuers are under increasing scrutiny, and the rule proposal would greatly facilitate Nasdaq’s ability to quickly delist such companies.

Aug 22, 2024 | lexology.com | Marcia Ellis |John Owen |Ryan Adams |Rongjing Zhao |Yilong Luo

On August 8, 2024, the Nasdaq Stock Market LLC (“Nasdaq”) submitted a proposal to amend its rules regarding penny stocks (i.e., stocks trading below a $1.00 minimum bid price) to make it easier for Nasdaq to delist them. Penny stock issuers are under increasing scrutiny, and the rule proposal would greatly facilitate Nasdaq’s ability to quickly delist such companies.