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Investing.com -- LiveOne (NASDAQ:LVO) stock surged 5.1% Tuesday after the music and entertainment platform announced it has regained compliance with Nasdaq’s minimum bid price requirements.
The company successfully maintained the required minimum bid price for the prescribed number of consecutive business days, resolving its previous listing issue with the exchange. LiveOne now meets all Nasdaq listing requirements, which the company says reaffirms its financial and operational stability.
"Regaining Nasdaq compliance is an important milestone for LiveOne and underscores our commitment to delivering value to our shareholders," said Robert Ellin, Chairman and CEO of LiveOne. "Coupled with our continued buyback program, we are excited to attract a broader base of institutional investors who share our long-term vision for growth in the digital entertainment and social media sectors."
The company noted it continues to execute its stock repurchase program, with $5.5 million remaining available for buybacks. According to LiveOne, regaining compliance positions the company to potentially attract more institutional investors and increase market liquidity for its shares.
LiveOne describes itself as a creator-first music, entertainment, and technology platform that trades on the Nasdaq under the ticker LVO.
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