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Tantech Holdings Ltd (TANH) stock has plummeted to a 52-week low, trading at just $0.08. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 6.99 and trades at a remarkably low price-to-book ratio of 0.01. This significant drop reflects a staggering 1-year change, with the company’s stock value eroding by -88.38%. Investors have watched with concern as Tantech, a company specializing in the development of bamboo-based charcoal products, has struggled in the market, leading to this new low point. Despite the challenges, the company has achieved 6.14% revenue growth in the last twelve months, and InvestingPro analysis suggests the stock may be undervalued at current levels. The sharp decline over the past year has raised questions about the company’s future prospects and the challenges it faces in its sector. [Discover 12 more exclusive insights and real-time analysis for TANH on InvestingPro]
In other recent news, Tantech Holdings Ltd announced a significant share consolidation of its common shares at a one-for-forty ratio. This move is a strategic effort to bring the company into compliance with NASDAQ Marketplace Rule 5550(a)(2) to maintain its listing status. As a result of this consolidation, the number of Tantech’s outstanding common shares will be significantly reduced from approximately 47.56 million to nearly 1.19 million, after accounting for fractional share redemptions.
However, it’s important to note that the authorized number of shares the company can issue remains unlimited and unchanged. Shareholders will not need to take any action as the conversion process will be automatically carried out. No fractional shares will be issued, instead, they will be redeemed by the company at the closing price of the common shares on the effective date.
These are recent developments in the company’s efforts to maintain its NASDAQ listing status. Note that Tantech’s common shares will continue to trade on the Nasdaq Capital Market under the ticker "TANH," albeit with a new CUSIP Number. It is essential for investors to keep abreast of these changes as they unfold.
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