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Technology company Crown Electrokinetics (NASDAQ: CRKN) is at risk of being delisted from the Nasdaq Stock Market after its stock price fell below its minimum bid price. The company's stock has traded below $0.10 for 10 consecutive days ending March 1, 2024, and a notice of violation of the low-priced stock rule was issued by Nasdaq staff on March 4.
Following this notice, Crown Electrokinetics plans to request a hearing before the Nasdaq Hearing Panel for the purpose of appealing the delisting process. This request would suspend the delisting action until a public hearing is held and a possible extension granted by the panel is completed. During this period, the Company's common stock will continue to be listed and traded on Nasdaq under the ticker symbol “CRKN.”
The upcoming public hearing marks a critical juncture for Crown Electrokinetics, which aims to maintain its listed status. However, there is no guarantee that the panel will rule in favor of the company's continued listing on the exchange. Additionally, even if a moratorium is granted, the company must meet Nasdaq's continued listing criteria within the allotted compliance period.
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