Summary by Moomoo AI
Nikola Corporation, listed on The Nasdaq Stock Market under the trading symbol NKLA, received a Notification Letter from Nasdaq on January 19, 2024, indicating that the company is not in compliance with the minimum bid price requirement. The Nasdaq Listing Rule 5450(a)(1) mandates that listed securities must maintain a minimum closing bid price of $1.00 per share. Nikola has been below this threshold for 30 consecutive business days. Despite the notice, Nikola's listing on Nasdaq remains unaffected for now. The company has been given 180 days, until July 17, 2024, to meet the minimum bid price requirement. The closing bid price of Nikola's common stock must reach at least $1.00 per share for at least 10 consecutive business days before the deadline to regain compliance. If Nikola fails to comply by July 17, 2024, it may be granted additional time to meet the requirement.