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BEIJING - TCTM Kids IT Education Inc. (NASDAQ:VSA), a micro-cap technology company with a market value of $43.34 million, has regained compliance with Nasdaq’s minimum bid price requirement, the company announced Wednesday.
The technology services company, which specializes in biomedical applications, research and development, and online education, received written notification from Nasdaq’s Listing Qualifications Department on July 7 confirming it has met the minimum bid price requirement of $1.00 per share. According to InvestingPro data, the stock has shown strong momentum with a 44.64% price return over the past six months.
VSA had previously been notified on January 3 that it was not in compliance with the listing rule, as the closing bid price of the company’s American depositary shares had fallen below $1.00 for 30 consecutive business days.
According to Nasdaq’s determination, VSA’s closing bid price remained at $1.00 per share or higher for 19 consecutive business days from June 6 to July 3, satisfying the conditions to regain compliance. Nasdaq has now closed the matter.
TCTM Kids IT Education describes itself as an emerging technology services company focused on AI-powered healthcare and biotech solutions, along with online education services.
The announcement was made in a company press release statement.
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