Aerwins Technologies, a leading player in solar technology, is witnessing a surge in its stock value on Tuesday, despite receiving a delisting notice from the Listing Qualifications Department of the Nasdaq Exchange.
At the time of this publication, Aerwins Technologies stock (AWIN) has witnessed a surge.
AERWINS Technologies Inc
Current Price: $0.15
Change : +0.04
Change (%): (35.70%)
Source: Tomorrow Events Market Data
The notice, issued by the regulatory body, has prompted the exchange to set a delisting date for the company’s shares this Friday, unless Aerwins Technologies lodges an appeal in response. The primary concern surrounding AWIN stock is its prolonged trading below the minimum bid price. On the preceding trading day, the stock concluded at a mere 11 cents per share, falling substantially short of the required $1 minimum price for continued listing on the exchange.
In addition to the bid price issue, Aerwins Technologies is grappling with other compliance hurdles for maintaining its stock listing on the Nasdaq Exchange. The company’s market value has dipped below $50 million, while its Minimum Market Value of Publicly Held Shares is presently under $15 million.
In the wake of this development, a flurry of trading activity was observed in AWIN stock during Tuesday’s morning session. At the time of reporting, over 14 million shares had changed hands, a marked increase from the daily average trading volume of approximately 8 million shares.
Despite the looming threat of delisting, AWIN stock has seen an impressive surge of 35% in value as of Tuesday morning. However, the year-to-date performance paints a starkly different picture, with the stock witnessing a staggering decline of 99% as of Monday’s close.
Aerwins Technologies has officially confirmed its intention to challenge Nasdaq’s decision. It is noteworthy that this marks the company’s second appeal against such a decision, having previously filed an appeal in April of this year.
The remarkable Aerwins Technologies stock surge reflects a resilient market response amidst the challenges posed by the delisting notice, highlighting the company’s potential to weather regulatory storms and regain investor confidence.