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SHENZHEN, China - Addentax Group Corp. (NASDAQ:ATXG), a service provider in garment manufacturing, logistics, and property management, has announced its return to compliance with Nasdaq’s minimum bid price requirement. The company’s common stock maintained a closing bid price at or above $1.00 for 10 consecutive business days from February 7 to February 21, 2025. This achievement follows a notification on April 24, 2024, from Nasdaq regarding the stock’s failure to meet the minimum bid price over a 30-day period. According to InvestingPro data, while the stock has seen a significant decline of nearly 20% in the past week, it has demonstrated remarkable strength with a 76% gain over the past six months.
The compliance update closes the matter concerning the Nasdaq Listing Rule 5450(a)(1), which requires listed securities to maintain a minimum bid price of $1.00. Addentax’s stock performance in the specified period has met this criterion, ensuring its continued listing on the Nasdaq stock exchange. With a market capitalization of $8.8 million and a strong current ratio of 8.64, InvestingPro analysis indicates the company maintains solid liquidity despite operating with moderate debt levels.
The company’s business activities encompass a range of services including garment manufacturing, logistics, and property management. While Addentax has expressed optimism about its financial and operational strategies, it cautions investors regarding forward-looking statements. Such statements involve risks and uncertainties, and actual results may differ from those projected. The company emphasizes that it does not undertake any obligation to update forward-looking statements as circumstances change. Based on InvestingPro Fair Value analysis, the stock appears overvalued at current levels, with additional insights available through 13 exclusive ProTips covering various aspects of the company’s performance and financial health.
Investors are encouraged to consider the risk factors detailed in Addentax’s filings with the SEC, including the Annual Report on Form 10-K for the year ended March 31, 2023. These factors could affect the company’s future results and are important for making informed investment decisions. Recent financial data shows the company generated $4.55 million in revenue over the last twelve months, with a gross profit margin of 20.4%.
This news is based on a press release statement from Addentax Group Corp. and provides current information about the company’s compliance status with Nasdaq’s listing requirements.
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