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Investing.com -- Graphjet Technology (NASDAQ:GTI) stock tumbled 25.9% after the company disclosed it received a notice from Nasdaq regarding its failure to file its quarterly report for the period ended June 30, 2025.
The graphite and graphene technology company announced today that it received the written notice on August 20, indicating non-compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports with the Securities and Exchange Commission.
Despite the steep decline in share price, Graphjet noted that the notice has no immediate effect on the listing of its ordinary shares, which will continue to trade on The Nasdaq Global Market under the symbol "GTI." The company has until August 27, 2025, to present its views regarding the notice to Nasdaq in writing.
Graphjet stated it had previously agreed with Nasdaq to regain compliance with the filing requirement before September 15, 2025. The company indicated it is "working diligently" to complete and file the Form 10-Q by this deadline and intends to meet Nasdaq’s continued listing requirements.
The exchange has requested that Graphjet respond to the compliance issue in writing, as Nasdaq will consider this deficiency when making decisions about the company’s continued listing status.
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