Plug Power Receives Low Price Notice from NASDAQ
Plug Power Inc., (NASDAQ: PLUG), a developer of energy technology, said that NASDAQ has notified the company it has violated a rule that requires its share price not to close at a value of less than $1 for 30 days in a row.
The notice will not immediately affect the company's listing. If the company cannot return to compliance by the June deadline, the stock is in danger of being delisted.
The company has 180 days, which is until June 7, 2010, to get back into compliance with the minimum bid price rule. That means the shares must close at $1 or more for at least 10 days in a row for NASDAQ to consider the company back in compliance.
Plug Power Inc. (PLUG) is a development stage enterprise involved in the design, development and manufacture of fuel cell systems for industrial-motive markets and stationary power markets worldwide.
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