SHF Holdings Inc. (NASDAQ:SHFS) shares jumped 51.28% to $0.14 after the bell on Tuesday following the announcement of a 180-day extension from Nasdaq to regain compliance with its minimum bid price requirement.
Nasdaq Extends Listing Deadline to April 2027
The Colorado-based fintech, which does business as Safe Harbor Financial, said Nasdaq gave it until Apr. 19, 2027, to meet the listing rule. Nasdaq first flagged the deficiency on Apr. 22, when the stock fell below the $1.00 minimum.
The company said it met the market value of publicly held shares requirement and all other initial listing standards for the Nasdaq Capital Market, except the minimum bid price. It added that it may cure the deficiency with a reverse stock split during the second compliance period, if necessary.
What SHFS Investors Should Know
The company said the notice has no immediate effect on trading, and shares will continue to trade under “SHFS.” To regain compliance, the closing bid must be at least $1.00 for 10 consecutive business days.
Terrance Mendez, CEO and CFO of Safe Harbor, said, “We are committed to meeting Nasdaq’s listing requirements and are exploring multiple strategies to regain compliance.” He said the trailing 14-day average deposit balance is at its highest level since April 2024.
Trading Metrics, Technical Analysis
SHF Holdings has a market capitalization of $96,500, a 52-week high of $46.80 and a 52-week low of $0.07.
The Relative Strength Index (RSI) of SHFS stands at 15.80.
The small-cap stock has fallen 99.77% over the past 12 months.
SHFS is currently trading close to its lowest price of the year.
Price Action: On Tuesday, the stock closed at $0.090, down 4.36%, according to Benzinga Pro data.
Benzinga’s Edge Stock Rankings indicates SHF Holdings stock has a negative price trend across all time frames.
Photo Courtesy: fadil051922 on Shutterstock.com
Recent Comments