Nasdaq News Finally, on July 19, 2019, FuelCell energy issued an update with regard to the Nasdaq. The company said that it received a letter from the Nasdaq on July 18, 2019, stating that it is not in compliance with continued listing requirements.
Unfortunately, the price of the stock has been trading below $1.00 per share for more than 30 consecutive business days. This pulls the company out of compliance with listing requirements.
As a result of the deficiency, FCEL was provided a grace period of 180 days to regain compliance. In this period, no actions will be taken by the Nasdaq.
To regain compliance, the stock must trade at a minimum price of $1.00 per share for a period of ten consecutive business days. Nonetheless, the company has plenty of time to get there and has already informed the Nasdaq of its intentions to remedy the issue. |