• Argo Blockchain has regained compliance with Nasdaq’s listing rule after fulfilling the minimum bid price requirement.
• The firm got a notification from Nasdaq’s Listing Qualifications Department that it has achieved compliance with the minimum bid price requirement on Jan. 13, 2023.
• Nasdaq has confirmed that the matter has been closed.
On January 23, 2023, major cryptocurrency mining company Argo Blockchain made an important announcement that it had regained compliance with the listing rules of the American stock exchange giant, Nasdaq. The crypto miner was able to fulfill the minimum bid price requirement of $1.00 for ten consecutive trading days, which was fulfilled on Jan. 13, 2023.
The news came after Argo Blockchain received a notification from Nasdaq’s Listing Qualifications Department on December 16, 2022, that its stock had closed below the minimum $1.00 for 30 consecutive trading days. The firm was then given a deadline of June 12, 2023 to rectify the situation. Fortunately, Argo Blockchain was able to resolve the issue within the stipulated time and regained compliance with Nasdaq’s listing rules.
The announcement of the successful fulfillment of the minimum bid price requirement was welcomed by the company’s shareholders. The news also came at a time when Argo Blockchain was experiencing liquidity issues and making efforts to avoid filing for bankruptcy.
Nasdaq has since confirmed that the matter is now closed and has sent a written notification to the firm that it has achieved compliance with the minimum bid price requirement. This is great news for Argo Blockchain, as it will now be able to regain investor confidence and continue to conduct its business operations without any major legal hindrance.
Overall, the news of Argo Blockchain meeting the Nasdaq minimum bid requirement is a huge relief for the firm and its shareholders, as it will help the company get back on track and continue to operate without any worries. The successful resolution of this issue will no doubt boost investor confidence in the firm and help it to further strengthen its foothold in the cryptocurrency mining industry.