Alset receives Nasdaq notice for non-compliance with minimum bid price rule

Alset Inc. (AEI) received a notice from Nasdaq Stock Market on Wednesday, indicating that its common stock has fallen below the minimum $1.00 per share bid price for 30 straight trading days. As a result, Alset no longer adheres to the continued listing requirements set by Nasdaq's Marketplace Rule 5550(a)(2). The stock is currently trading at $0.51, marking its 52-week low and having dropped approximately 82% over the past year.

In the following 180 days, Alset has until April 26, 2027, to regain compliance. If the stock price rises to at least $1.00 per share for 10 consecutive business days before the deadline, Nasdaq will inform Alset of its regained compliance. The company maintains that the notice does not immediately impact its listing on the Nasdaq Capital Market.

Alset may be eligible for an extra 180-day compliance period if it meets other listing requirements, excluding the bid price, and notifies Nasdaq of its intent to remedy the issue, including the potential for a reverse stock split. If Alset fails to regain compliance or is not eligible for additional time, Nasdaq could notify the company of its potential delisting, allowing Alset to appeal the decision.

Alset has previously announced plans for a 1-for-5 reverse stock split, with the timing to be disclosed soon. Despite the stock's challenges, InvestingPro analysis indicates that the company may be undervalued at its current price, with additional insights and 19 more ProTips available to subscribers.