Smart Logistics Global Ltd (NASDAQ:SLGB) shares surged 106.40% to $0.42 in after-hours trading on Thursday after the Hong Kong-based business-to-business contract logistics provider said Nasdaq gave it more time to meet listing requirements.
Nasdaq Grants 180 More Days to Regain Compliance
After the markets closed on Thursday, Smart Logistics Global said that it received written notice from Nasdaq.
Nasdaq granted an additional 180 calendar days, until Apr. 26, 2027, to meet the minimum bid price requirement under the listing rule.
The exchange said the company meets the continued listing requirement for market value of publicly held shares. It also meets all other Nasdaq initial listing requirements, except the minimum bid price. The company has told Nasdaq it intends to regain compliance.
The notice has no immediate effect on trading. The Class A Ordinary Shares will continue to trade under “SLGB.”
The after-market announcement lifted the stock sharply. The late-session surge followed an intraday decline of 5.14% to $0.20, according to Benzinga Pro data.
The company said it will keep monitoring its bid price and weigh alternatives, including a reverse stock split if necessary. A reverse split reduces the share count to raise the per-share price. It does not change market capitalization.
Trading Metrics, Technical Analysis
Smart Logistics Global has a market capitalization of about $9.04 million. Over the past 52 weeks, its stock has traded as high as $4.22 and as low as $0.18.
SLGB has a Relative Strength Index (RSI) of 30.
Over the past 12 months, the small-cap stock has fallen 93.22%.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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