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Brand Engagement Network Regains Nasdaq Compliance
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June 13, 2024 – Shares of Brand Engagement Network Inc. are breathing a little easier today after the company announced it has regained compliance with Nasdaq’s minimum bid price requirement. The stock, which had been flirting with delisting, closed above $1.00 today, a crucial threshold for continued listing on the exchange.
A Narrow Escape for Brand Engagement Network
The company’s stock price recovery avoids potential delisting and restores investor confidence.
The Nasdaq sent Brand engagement Network a warning letter on April 29, 2024, indicating the company was not in compliance with Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share. The company was given 180 days to regain compliance, or risk being delisted. Today’s price action effectively resets that clock.
What Does This Mean for Investors?
Brand Engagement network’s ability to maintain its Nasdaq listing is meaningful for investors. Delisting can frequently enough lead to reduced liquidity and limited trading options, perhaps impacting share value. Successfully meeting the minimum
