J-Long Group (JL) announced receipt of a letter from the Listing Qualifications Department of The Nasdaq Stock Market. The Determination Letter indicated that, as previously notified by Nasdaq on May 13, 2024, the bid price of the Company’s listed security had closed at less than $1 per share over the previous 30 consecutive business days and, as a result, did not comply with Listing Rule 5550(a)(2). In accordance with the Rule, the Company was provided 180 calendar days, or until November 11, 2024, to regain compliance with the Rule. The Staff determined that the Company’s Ordinary Shares would be scheduled for delisting from The Nasdaq Global Market and would be suspended at the open of business on November 25, 2024. The Determination Letter further informed the Company that it had until 4:00 p.m. Eastern Time on November 25, 2024, to appeal the Staff’s Delisting Determination to a Hearings Panel. At this time, the Company is considering effecting a reverse stock split to regain compliance. The Company’s Ordinary Shares will continue to trade on The Nasdaq Global Market following the submission of the hearing request until a final determination has been made by Nasdaq.
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