xG Technology Shares Pop 20% After Nasdaq Compliance News

Shares of xG Technology Inc XGTI climbed as much as 29 percent Tuesday after it announced it regained compliance with Nasdaq listing requirements.

In a letter received from the Nasdaq, xG Technology was informed that it has regained compliance with the bid price and rights/warrants rules, as required by the Panel’s decision dated November 21, 2016.

Sarasota, Florida-based xG Technology provides cognitive interference mitigation and spectrum access solutions. The company's products include xMax, CN5100 Mobile Hotspot and CN3100 Vehicle Modem.

At last check, shares of xG Technology were up 16.32 percent to $2.21. Earlier in the day, shares rose to $2.45, a far cry from its 52-week high of $34.68.