Jones Soda Announces Receipt of NASDAQ Minimum Bid Price Non-Compliance Letter (JSDA)
Symbols: JSDA
Tags: JSDA
Posted in: News, Short Ideas, Small Cap Analysis, Intraday Update, Movers, Trading Ideas, Press Releases
Last week we noticed Jones Soda (NASDAQ: JSDA) moving up strong on unusual volume with no news. The stock rose from its recent trading range of around $0.70/share to just under $1.00/share.
On Friday Jones Soda did issue a press release, however this was probably not what investors had in mind. Jones announced that they received a letter of non-compliance from NASDAQ in regards to their share price. The exchange requires a minimum bid price of $1.00/share, which Jones has failed to meet as of late.
The company has approximately 1 year from now through grace periods and extensions to comply, before the exchange would commence delisting.
Jones Soda is trading down 1% to $.92/share in afternoon trading.
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