Lixiang Education Regains Nasdaq Compliance for Publicly Held Shares
LXEH sits 56% above its 52-week low of $0.832 on light trading volume (0.2× avg).
Summary
Lixiang Education Holding Co. Ltd. has regained compliance with Nasdaq's minimum market value of publicly held shares requirement. This follows the company's announcement on May 22nd that it had also regained compliance with Nasdaq's minimum bid price rule. For a micro-cap company that reported a going concern warning and massive losses in its May 12th 20-F filing, avoiding delisting is critical for its continued access to public capital markets.
At the time of this announcement, LXEH was trading at $1.30 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $2.5M. The 52-week trading range was $0.83 to $32.80. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.