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HONG KONG - MMTEC, Inc. (NASDAQ:MTC), a China-based technology company providing access to U.S. financial markets with a market capitalization of $20.2 million, received a delisting determination letter from Nasdaq on Monday due to failure to meet the exchange’s minimum bid price requirements.
According to a company press release, MMTEC’s common stock, currently trading at $0.80, has traded below the required $1.00 minimum closing bid price for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). The stock has declined over 72% in the past year, according to InvestingPro data.
The company is not eligible for the standard 180-day compliance period because it previously conducted a one-for-eight reverse stock split on December 18, 2024, as stipulated under Nasdaq Listing Rule 5810(c)(3)(A)(iv). Get access to more detailed company analysis and 8 additional key insights with InvestingPro.
Despite the determination, MMTEC’s shares will continue trading on the Nasdaq Capital Market for now. Without an appeal, trading would be suspended on November 5, 2025.
MMTEC has until November 3, 2025, to request a hearing before a Nasdaq Hearings Panel, which would stay the suspension pending the panel’s decision. The company stated it is currently evaluating its options and intends to appeal, though there is no guarantee of success in regaining compliance.
Headquartered in Hong Kong, MMTEC focuses on investment banking and asset management services, achieving impressive revenue growth of 234.7% and maintaining a strong gross profit margin of 82.21% in the last twelve months. The company disclosed this information pursuant to Nasdaq Listing Rule 5810(b), which requires prompt disclosure of delisting determinations. According to InvestingPro’s Fair Value analysis, the stock appears to be undervalued at current levels.
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