Meta Materials ( NASDAQ: MMAT ) +7.4% in Wednesday's trading after hitting its lowest since late 2020 early in the session, after disclosing it was notified by Nasdaq that the company is not in compliance with the $1.00 minimum bid price requirement for continued listing.
The company has a period of 180 calendar days, or until February 21, 2023, to regain compliance with the rule; the company said it "may, if appropriate, consider implementing available options" to regain compliance.
Earlier this month, the company reported a Q2 GAAP loss of $0.07/share on revenues of $3.3M.
Meta Materials ( MMAT ) has continued to slide after plunging 38% to its lowest closing price since December 2020 after offering more than 37M common shares in June; the stock has lost 70% YTD and 82% during the past year .
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Meta Materials bounces off 52-week low despite Nasdaq compliance warning