Edible Garden AG Incorporated (NASDAQ:EDBL) shares are trading higher Monday after the company announced it regained compliance with the Nasdaq minimum bid price requirement.
The Details:
"We are pleased to have regained compliance with the bid price requirement of Nasdaq. Maintaining our Nasdaq listing is of the utmost importance to the Company given the credibility and visibility that it provides, and we view it as essential in our ongoing activities to enhance shareholder value and position the Company for long-term success. We remain optimistic about the future of our business, bolstered by our expanding retail network, diverse product line, and strict cost management," said Jim Kras, CEO of Edible Garden.
Edible Garden's stock ran more than 100% last week after the company reported a preliminary first-quarter year-over-year increase in produce revenues of 40% and an increase in cut herb revenue of more than 200% compared to the same period last year.
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Should I Sell My EDBL Stock?
When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Edible Garden have decreased by 82.39% in the past year. An investor who bought shares of Edible Garden at the beginning of the year would take a loss of $3.11 per share if they sold it today. The stock has risen 11.32% over the past month, meaning an investor who bought shares on March 1 would see a capital loss of $1.34.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Edible Garden AG stock currently has an RSI of 29.75, indicating oversold conditions.
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EDBL Price Action: According to Benzinga Pro, Edible Garden shares are up 63.6% at $6.15 at the time of publication Monday.
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