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Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) has successfully regained compliance with Nasdaq’s minimum bid price requirement, according to a recent 8-K filing with the U.S. Securities and Exchange Commission. The gaming and entertainment services provider, headquartered in New York, had previously been notified of a deficiency regarding its stock price.
The Nasdaq Listing Qualifications Department initially informed Allied Gaming on January 28, 2025, that the company’s common stock had closed below the required minimum of $1.00 per share for 30 consecutive business days. This drop in stock price put the company at risk of being delisted from the Nasdaq Capital Market under Listing Rule 5550(a)(2). Despite these challenges, InvestingPro analysis shows the stock has achieved an impressive 40% return year-to-date, with current trading around $1.00 per share. The notification did not immediately affect the company’s listing status.
To address the issue, Nasdaq provided Allied Gaming with a 180-day grace period, until July 21, 2025, to meet the Bid Price Requirement. The company’s efforts to rectify the situation proved successful, and on February 6, 2025, Allied Gaming received confirmation from Nasdaq that it had regained compliance with the bid price rule.
The compliance letter from Nasdaq has effectively closed the matter, ensuring that Allied Gaming’s common stock will continue to be listed and traded on the Nasdaq Capital Market. While this development reflects positively on the company’s ability to maintain listing standards, InvestingPro subscribers have access to additional insights, including 7 key ProTips and comprehensive financial analysis through the Pro Research Report, helping investors make more informed decisions about AGAE’s future prospects.
The 8-K filing, dated February 10, 2025, was signed by Roy Anderson, the Chief Financial Officer of Allied Gaming & Entertainment Inc. The company, originally known as Allied Esports Entertainment, Inc., has a history dating back to its former identity as Black Ridge Acquisition Corp. before its name change in August 2019.
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