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Why Did Color Star Plunge 24.53%? Nasdaq Deficiency, Reverse Split
Generated by AI AgentAinvest Movers Radar
Thursday, Apr 10, 2025 4:17 am ET1min read
On April 10, 2025, Color Star's stock experienced a significant drop of 24.53% in pre-market trading, raising concerns among investors about the company's recent developments.
Color Star Technology Co., Ltd. has received a notification letter from Nasdaq regarding a bid price deficiency. This notification indicates that the company's stock price has fallen below the minimum bid price requirement set by Nasdaq, which is $1.00 per share for 30 consecutive business days. This deficiency could potentially lead to delisting if the company fails to regain compliance within the specified timeframe.
In response to the notification,
has announced a 100-for-1 reverse stock split. This move is aimed at increasing the stock price to meet Nasdaq's minimum bid price requirement. A reverse stock split reduces the number of outstanding shares and increases the price per share, which can help the company regain compliance with Nasdaq's listing standards.
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