S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
Odyssey Marine Exploration, Inc., a deep-ocean exploration company with a market capitalization of $34.7 million, has regained compliance with Nasdaq’s minimum bid price requirement, avoiding delisting from the Nasdaq Capital Market. The company, headquartered in Tampa, Florida, had previously been at risk of delisting due to its stock price falling below the $1.00 minimum bid price for 30 consecutive business days, as required by Nasdaq Listing Rule 5550(a)(2). According to InvestingPro data, the stock currently trades at $1.20, showing remarkable resilience despite its historically high price volatility.
The issue came to light on November 4, 2024, when Nasdaq first notified Odyssey Marine of its non-compliance. Following this, the company was given a 180-day period to regain compliance. However, as of May 7, 2025, Odyssey Marine had not met the necessary requirements, prompting Nasdaq to schedule the company’s securities for delisting.
In an unexpected turn of events, Odyssey Marine’s fortunes changed when its common stock’s closing bid price remained at or above $1.00 per share for ten consecutive business days, from April 25 to May 8, 2025. This recovery satisfied Nasdaq’s requirements, leading to the closure of the delisting matter. The stock’s impressive performance includes a 146% surge over the past six months and a recent 12% gain in the past week. InvestingPro analysis suggests the stock may be undervalued at current levels, with 12 additional exclusive insights available to subscribers.
The company’s compliance with the Nasdaq Listing Rule 5550(a)(2) was confirmed on Friday, May 9, 2025, as disclosed in a recent filing with the Securities and Exchange Commission. Odyssey Marine did not need to appeal the initial delisting determination due to this positive development.
This news comes as a relief to Odyssey Marine and its investors, ensuring that the company’s securities will continue to trade on the Nasdaq Capital Market without interruption. Trading at a modest P/E ratio of 1.61, the company presents an interesting value proposition for investors. Want to dive deeper into Odyssey Marine’s financial health and growth potential? InvestingPro subscribers get access to comprehensive financial analysis, Fair Value estimates, and expert insights. The financial statements and exhibits sections of the filing did not contain any new applicable data and were marked as not applicable.
The company’s CEO, Mark D. Gordon, signed the SEC filing, affirming the accuracy of the reported information. This announcement is based on a press release statement.
In other recent news, Odyssey Marine Exploration, Inc. has aligned with a new U.S. Executive Order aimed at enhancing offshore mineral exploration, which could position the company to play a significant role in advancing the nation’s mineral strategy. The company has also regained compliance with Nasdaq’s financial requirements, showing a net income of $6,247,129, and continues to work towards meeting the minimum bid price requirement. Additionally, Odyssey Marine has appointed Larissa Pommeraud, a sustainability expert, to its Board of Directors, reinforcing its commitment to responsible mineral exploration and environmental sustainability. Furthermore, the company has prepared a shelf registration statement to maintain financial flexibility, allowing for potential future offerings. In related developments, TMC the metals company is poised to benefit from a potential executive order by the Trump administration promoting deep sea mining, which could enhance the company’s prospects in extracting critical metals. TMC’s focus on sustainable mining methods and its strategic positioning could align well with new regulatory frameworks. Both companies are actively engaged in efforts to support the clean energy transition and secure essential mineral resources.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.