OK, regarding Nasdaq requirements:
I emailed them at staffinterpretations@nasdaq.com to get the accurate information on the uplisting dollar price/days and oddly enough I received a phone call back.
This was my query:
Good morning.
I have read the PDF on the listing requirements. I have been told there are 3 variations for Bid Closing Price to qualify for Nasdaq, but have only been able to verify one: $2 bid closing price for 90 consecutive days.
Can you tell me if the below options are legitimate options for qualifying?
$2 Bid Closing price – 90 consecutive days
$3 Bid Closing price – 4 consecutive days
$4 Bid Closing price – 1 day
Thank you in advance!
We are all aware of the 90 day @ $2, but according to the gentleman I spoke with there are the two other options.
1) $3 for 5 days, not 4
2) $4 for 1 day
This following part I am only including as a future reference for other stocks:
If a company performs a RS to achieve either of the 2 options above for $3 & $4, depending on severity of the R/S, Nasdaq can place an additional 5-10 day requirement on sustaining the price point.
In other words, if you have a $3 target, but are sitting at $1.00, and perform a 1:3 R/S, you not only have to wait the 5 days, but an additional 5-10 days. Same for the $4 point if you R/S (1 day can become 6 days up to 11 days) to sustain the $4.
Thought I would help clear the air for everyone a bit since I was quite curious myself, as are a few others on this board.
Best to all Longs on IQST!
