Maison Solutions Inc., a grocery retailer based in Monterey Park, California, has regained compliance with Nasdaq's minimum bid price requirement, according to a recent 8-K filing with the U.S. Securities and Exchange Commission.
On September 17, 2024, Maison Solutions received a notification from The Nasdaq Stock Market LLC indicating that the company's stock had closed below the $1.00 minimum bid price for 30 consecutive business days, which is a requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2).
However, as of October 8, 2024, Nasdaq sent a letter to Maison Solutions confirming that the company's common stock had closed at or above the $1.00 minimum bid price per share for 10 consecutive business days from September 24 to October 7, 2024. This achievement means that Maison Solutions has regained compliance with the Minimum Bid Price Requirement.
The company, which trades under the ticker MSS on The Nasdaq Stock Market LLC, is now considered to have resolved the issue about its stock's bid price, and Nasdaq has closed the matter.
The information reported here is based on the company's press release statement filed with the SEC.
InvestingPro Insights
While Maison Solutions Inc. (MSS) has regained compliance with Nasdaq's minimum bid price requirement, recent InvestingPro data reveals a complex financial picture. The company's market capitalization stands at $26.39 million, reflecting its small-cap status. Despite the recent compliance achievement, MSS has experienced significant volatility, with InvestingPro Tips noting that the stock "generally trades with high price volatility" and has seen its "price fall significantly over the last year."
Interestingly, MSS has shown a "strong return over the last month," with InvestingPro data indicating a remarkable 66.65% price total return in the past month. This aligns with the company's recent efforts to meet Nasdaq's listing requirements. However, investors should be cautious, as InvestingPro Tips highlight that the company "operates with a significant debt burden" and "may have trouble making interest payments on debt."
For a more comprehensive analysis, InvestingPro offers additional tips and insights that could be valuable for investors considering MSS stock. The platform provides a total of 8 tips for Maison Solutions Inc., offering a deeper understanding of the company's financial health and market position.
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