Starbox Group Holdings Ltd STBX shares are trading lower by 51% to $0.10 Wednesday morning, despite a lack of company-specific news for the session. The stock may be falling on continued weakness after the company last week received a notification from Nasdaq regarding its non-compliance with the minimum share price requirement.
The rule stipulates a minimum bid price of $1.00 per share for continued listing on Nasdaq. The company has 180 days to meet this requirement by maintaining a closing bid price of at least $1.00 for ten consecutive business days.
Failure to do so could lead to delisting, but the company's day-to-day operations remain unaffected. To comply, they may consider options like a reverse share split.
According to data from Benzinga Pro, STBX has a 52-week high of $4.46 and a 52-week low of $0.097.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
