HUDI shares fell below Nasdaq’s $1 minimum bid requirement for 30 straight sessions, triggering a compliance notice.
Huadi International disclosed it received a Nasdaq notice after its stock closed below the exchange’s $1 minimum bid price for 30 consecutive business days. The company’s shares last traded at 85 cents, down from $1 on June 11.
The notice does not immediately impact HUDI’s listing status. Nasdaq rules typically allow a 180-day cure period for companies to regain compliance, though specifics were not detailed in the announcement.
Huadi’s stock has faced downward pressure amid broader market conditions, though no immediate market reaction was reported following the notice.