Spi Energy Co Ltd (NASDAQ: SPI) is having an amazing start to the trading session early on today, and for good reason. The company announced that it has received a notice from the NASDAQ, granting its request to maintain listing on certain conditions. Of course, the news excited investors, sending the stock on a run for the top. Today, we’ll talk about:
- The NASDAQ listing news;
- what we’re seeing from SPI stock as a result; and
- what we’ll be watching for ahead.
SPI Rockets On NASDAQ News
As mentioned above, SPI Energy is having an incredibly strong start to the trading session this morning, following news surrounding its listing. In a press release issued late Friday, the company announced that it received a letter from The Nasdaq Stock Market LLC.
According to the letter, the NASDAQ Hearings Panel has granted a request made by the company for continued listing. However, the listing is contingent on the company’s fulfillment of certain conditions.
In particular, SPI must demonstrate compliance with the minimum $15 million market value of publicly held shares for ten consecutive days on or before May 17, 2019. Also, the company is required to be able to demonstrate compliance with all requirements for continued listing on the NASDAQ and the company must provide prompt notification of any significant events that occur during the exception period.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. When it comes to SPI Energy, the news proved to be overwhelmingly positive. While the company does have some work to do in order to maintain its listing in the long run, the NASDAQ has granted its request to remedy the issues while maintaining its listing and access to public investors that it provides. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on SPI. In particular, we’re interested in following the company’s work to regain compliance with the NASDAQ’s minimum value rule within the extension provided. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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