Avalanche Treasury Firm AVAX One Reclaims Nasdaq Compliance After Reverse Stock Split
The post Avalanche Treasury Firm AVAX One Reclaims Nasdaq Compliance After Reverse Stock Split appeared on BitcoinEthereumNews.com. In brief AVAX One regained compliance with Nasdaq’s $1.00 minimum bid price rule after 10 straight days above threshold. The crypto treasury company rose back above the minimum level thanks to a 1-for-12 reverse stock split in June. Interim CEO Pete Wylie says the company is now focused on growth and profitability. AVAX One Technology, a crypto treasury firm that holds Avalanche (AVAX), announced Thursday that it has regained compliance with Nasdaq’s minimum bid price requirement, closing out a listing issue that had put the company under scrutiny ahead of last month’s reverse stock split. The West Palm Beach, Florida-based company said Nasdaq confirmed it met Listing Rule 5550(a)(2), which requires a stock’s closing bid price to stay at or above $1.00 per share. Nasdaq found that AVAX One’s shares closed above that threshold for 10 consecutive trading day