AGM Group Holdings Inc. (NASDAQ:AGMH) shares jumped 29.55% to $0.69 in after-hours trading on Tuesday.
In the regular session, the stock of the Hong Kong-based technology and investment management company closed at $0.53, down 2.01%, according to Benzinga Pro data.
Nasdaq Flags Bid Price Shortfall
The move follows AGM Group’s Tuesday Securities and Exchange Commission filing, in which the company disclosed that it received a Nasdaq deficiency notice over its share price.
According to the SEC filing, the company received a letter on Oct. 9 from Nasdaq’s Listing Qualifications Department. The letter said the closing bid price of its Class A ordinary shares stayed below $1.00 for 30 consecutive business days, from Aug. 27 through Oct. 8. That fails Nasdaq listing rule.
The notice does not trigger immediate delisting. Shares continue to trade under “AGMH.”
What Investors Should Watch
AGM has 180 calendar days, until April 7, 2027, to regain compliance.
The closing bid price must be at least $1.00 for a minimum of 10 consecutive business days during the compliance period. Nasdaq may require a longer period at its discretion.
If the company misses the deadline, it may qualify for a second 180-day period. It would need to meet the market value of publicly held shares requirement and all other Nasdaq Capital Market initial listing standards, except bid price. It must also give written notice of its intent to cure the deficiency during the second period, including through a reverse stock split if necessary.
Trading Metrics, Technical Analysis
AGM Group Holdings has a market capitalization of $2.13 million, a 52-week high of $5.30 and a 52-week low of $0.48.
The Relative Strength Index (RSI) of AGMH stands at 31.63.
The stock has fallen 89.78% over the past 12 months.
AGMH is currently trading near its annual low.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: fadil051922 on Shutterstock.com
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