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Stran & Company, Inc., an advertising agency based in Quincy, Massachusetts, has received a notification from The Nasdaq Stock Market LLC indicating non-compliance with the exchange’s minimum bid price requirement. The Nasdaq Listing Rule 5550(a)(2), also known as the Bid Price Rule, mandates that listed securities maintain a minimum bid price of $1.00 per share.
The company’s common stock, traded under the ticker SWAG, did not meet this requirement for 30 consecutive business days from December 9, 2024, to January 23, 2025. As a result, Stran & Company has been given 180 calendar days, until July 28, 2025, to regain compliance. To achieve this, the common stock must close at or above $1.00 for at least ten consecutive business days.
If Stran & Company fails to meet the Bid Price Rule within the allotted time, it may be eligible for an additional 180-day period to resolve the issue, potentially through a reverse stock split. Failure to regain compliance could lead to the delisting of the company’s common stock from The Nasdaq Capital Market.
The notification does not affect the company’s current stock listing, and Stran & Company’s name will appear on Nasdaq’s list of non-compliant companies. Stran & Company has expressed its intention to monitor its stock’s closing bid price closely and is considering options to address the compliance issue.
The details of this development are based on a press release statement from Stran & Company, Inc., which was filed with the Securities and Exchange Commission on January 31, 2025.
In other recent news, Stran & Company, an advertising agency, faces potential delisting from The Nasdaq Stock Market LLC due to non-compliance with the exchange’s listing rules.
The Massachusetts-based company received a notice from Nasdaq, indicating it had not held an annual stockholders’ meeting within twelve months of the fiscal year-end, thereby violating Nasdaq Listing Rule 5620(a). This issue adds to Stran & Company’s ongoing challenges with Nasdaq, including a previous Staff delisting determination due to the company’s failure to file its Quarterly Reports on Forms 10-Q for specific periods. Stran & Company has requested a hearing before a Nasdaq Hearings Panel, with the outcome still uncertain.
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