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ATIF Holdings Limited, a management consulting services provider, has regained compliance with the Nasdaq Capital Market's minimum bid price requirement, according to a recent 8-K filing with the U.S. Securities and Exchange Commission. The company's ordinary shares, traded under the symbol NASDAQ:ATIF, closed at $1.00 or higher for 10 consecutive business days, from September 10 to September 23, 2024.
Earlier on May 20, 2024, ATIF Holdings had received a deficiency notice from Nasdaq for not meeting the minimum bid price of $1.00 over the previous 30 consecutive business days. The notice stipulated a 180-day compliance period, ending on November 18, 2024, for the company to meet the requirement. Achieving the $1.00 minimum bid price for a minimum of ten consecutive business days before the deadline allowed the company to regain compliance.
The return to compliance is a significant step for ATIF Holdings, which operates under the industrial classification of Services-Management Consulting Services. This development ensures that the company can continue to trade on the Nasdaq Capital Market without facing the risk of delisting, a concern that had been raised by the initial deficiency letter.
The company, which has its principal executive offices in Lake Forest, CA, had undergone a name change from Asia Times Holdings Ltd on October 3, 2018. As an emerging growth company, ATIF Holdings has the option to adhere to reduced public company reporting requirements.
This news is based on the company's latest SEC filing and marks the end of the matter concerning Nasdaq Listing Rule 5550(a)(2) for ATIF Holdings. The company's CEO, Jun Liu, provided the signature on the SEC filing dated Wednesday, confirming the company's return to compliance with the Nasdaq's listing rules.
InvestingPro Insights
In light of ATIF Holdings Limited's recent compliance achievement with the Nasdaq's minimum bid price requirement, a glimpse into the company's financial health and stock performance through InvestingPro data and tips offers a deeper understanding for investors. With a market capitalization of approximately $12.51 million USD, ATIF Holdings operates as a niche player in the management consulting services industry. Notably, the company holds more cash than debt on its balance sheet, which is a positive sign for financial stability. However, it's important to highlight that the company has not been profitable over the last twelve months, and its stock has experienced significant price volatility during this period.
InvestingPro Tips suggest that ATIF's stock price often moves in the opposite direction of the market, which could be an important consideration for investors looking for diversification or hedging opportunities. Additionally, the stock has seen a strong return over the last month and three months, with price total returns of 32.14% and 21.98% respectively. This could indicate a recent upswing in investor confidence or a response to specific company or market events.
For investors seeking more detailed analysis, InvestingPro offers additional tips, including insights into the company's revenue valuation multiples and liquidity position. There are 13 more InvestingPro Tips available that delve into various aspects of ATIF Holdings' financial performance and stock characteristics. To explore these further, interested individuals can visit the dedicated InvestingPro page for ATIF Holdings at https://www.investing.com/pro/ATIF.
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