SU Group Regains Nasdaq Compliance After Reverse Split
SUGP has more than doubled off its 52-week low of $1.165 on light trading volume (0.3× avg).
Summary
SU Group has received written confirmation from Nasdaq that it has regained compliance with the minimum bid price requirement, resolving the delisting determination issued on August 3. This follows the 1-for-5 reverse stock split effective August 6, which lifted the share price above the $1 threshold. The company's Class A Ordinary Shares will continue to trade on Nasdaq under SUGP. The confirmation removes the immediate delisting risk and stabilizes the listing status. The stock now trades at $2.8, well above the minimum bid price.
At the time of this announcement, SUGP was trading at $2.80 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $4.5M. The 52-week trading range was $1.17 to $55.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.