NextPlat Corp (NASDAQ:NXPL) shares jumped 40.16% in after-hours trading to $1.18 on Wednesday.
Check out the current price of NXPL stock here.
According to Benzinga Pro data, the stock closed the regular session at $0.84, representing a 6.27% increase.
Nasdaq Grants 180-Day Extension
NextPlat announced in a press release on Wednesday that the Nasdaq Stock Market had granted it another 180 calendar days to comply with the minimum bid price requirement specified in Nasdaq Listing Rule 5550(a)(2).
The Florida-based company now has until April 27, 2026, to maintain a closing bid price of at least $1 per share for a minimum of ten consecutive trading days.
Compliance Requirements
Nasdaq's extension notice does not immediately affect NXPL's listing on the Nasdaq Capital Market.
See Also: Why Did VCI Global Shares Jump 88% After Hours?
According to the company's press release, Nasdaq granted the extension after determining that NextPlat meets all other continued listing requirements.
The communications and e-commerce solutions stated to have given written notice of their intention to address the shortfall, if required, by a reverse stock split.
Potential Delisting Proceedings
Nasdaq will give NextPlat written notice that its common stock may be delisted if it fails to meet the minimum bid requirement within the allotted 180 days.
The company can appeal Nasdaq's decision to a Hearings Panel and would stay listed while the panel reviews the case.
Stock Performance
The stock is down 22.76% year-to-date but has gained 50.34% over the past six months.
NextPlat Corp.’s market capitalization is $21.92 million, and it has fluctuated between $0.43 and $2.30 over the past 52 weeks.
Benzinga Edge Stock Rankings indicate that NXPL has a positive price trend across all time frames. Track the performance of other players in this segment.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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