(Image source: Visual China)
Recently, Lixiang Education received a notice that NASDAQ failed to meet the rules for continuing listing.
According to the announcement, based on Lixiang Education's closing price from March 21, 2024 to May 6, 2024, Lixiang Education no longer meets the minimum bid requirements.
According to the listing rules, Lixiang Education has been offered for 180 days (or until November 4, 2024) to re-comply with the minimum purchase price rule.
In order to regain compliance, Lixiang Education's stock price must close at least $1.00 for at least 10 consecutive working days within 180 days or before November 4, 2024. If they fail to re-comply with the minimum bid price rules by November 4, 2024, they may be eligible for additional time.
According to reports, since March of this year, Lixiang Education's stock price has fallen for a while and remained below 1 US dollar/share. By the close of trading on May 10, EST, Lixiang Education's stock price had risen 0.55% to close at 0.4917 US dollars/share.
Meanwhile, in the announcement, Lixiang Education stated that it will actively monitor the completion of the transaction from now until November 4, 2024.