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Stran & Company, Inc. (NASDAQ:SWAG), an advertising agency based in Quincy, Massachusetts, has announced that it has regained compliance with the Nasdaq’s minimum bid price requirement. The company received a notification from the Nasdaq Listing Qualifications Department on February 20, 2025, confirming that its common stock’s closing bid price has met or exceeded $1.00 for at least ten consecutive business days.
The compliance achievement follows a prior notification on January 27, 2025, in which Nasdaq informed Stran & Company of its non-compliance with the minimum bid price rule. The company was given until July 28, 2025, to rectify the situation. However, between February 4, 2025, and February 19, 2025, the company’s stock consistently closed at or above the $1.00 threshold, effectively meeting the requirement well ahead of the deadline.
Stran & Company’s common stock, with a par value of $0.0001 per share, and warrants, each warrant exercisable for one share of common stock at an exercise price of $4.81375, are both listed on The Nasdaq Stock Market LLC under the symbols SWAG and SWAGW, respectively.
This development is significant for Stran & Company, as continued listing on the Nasdaq Capital Market is contingent upon meeting a set of stringent criteria, including the bid price rule. By regaining compliance, the company avoids potential delisting procedures which could impact its visibility and attractiveness to investors.
The information regarding Stran & Company’s regained compliance is based on a press release statement filed with the Securities and Exchange Commission (SEC) on February 21, 2025.
The company, identified by the Central Index Key number 0001872525, operates under the Standard Industrial Classification code for Advertising Agencies (7311). The SEC filing confirms that the matter of non-compliance with the bid price requirement is now closed.
In other recent news, Stran & Company, Inc. has encountered several challenges related to its listing on The Nasdaq Stock Market LLC. The company received a notification for non-compliance with Nasdaq’s minimum bid price requirement, as its stock price fell below $1.00 per share for 30 consecutive business days.
Stran & Company has until July 28, 2025, to address this issue, with the possibility of a reverse stock split if necessary. Additionally, the company faces potential delisting due to not holding an annual stockholders’ meeting within the required timeframe, violating Nasdaq Listing Rule 5620(a).
Stran & Company also missed deadlines for filing its Quarterly Reports for three quarters in 2024, which contributed to a Staff delisting determination. The company has requested a hearing before a Nasdaq Hearings Panel, which temporarily halts the delisting process until the panel’s decision is announced.
Stran & Company has expressed its intention to monitor its stock price and explore options to address these compliance issues. The company has committed to providing further updates as the situation progresses.
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