Graphjet Innovation Inc. GTI stock has actually seen a 41.10% rise, increasing to $0.10 in after-hours. This advancement follows the business’s CEO exposed a tactical strategy to prevent delisting.
What Occurred: The rise in Graphjet’s stock worth follows the statement of a tactical strategy by the business’s CEO Chris Lai, to avoid delisting from the NASDAQ.
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Graphjet Innovation, a supplier of green graphite options, has actually been dealing with possible delisting due to non-compliance with NASDAQ policies. The business’s tactical strategy is anticipated to deal with these problems and make sure the business’s ongoing listing on the NASDAQ.
Chris Lai on the strategy, “We are positive that our strategy to deal with the non-compliances with the NASDAQ listing requirements can be carried out. In addition, the business will make the needed statement when the efforts produced the business’s improvement flourish.”
The stock closed up at 3.84% to $0.073 on July 15.
Why It Matters: Graphjet Innovation’s stock worth has actually gone through considerable variations in current times. The business got a noncompliance letter from the NASDAQ in June, followed by a panel hearing date in June. In reaction, the business sent an interest the NASDAQ in June, which resulted in a momentary stay of the delisting procedure.
In the middle of these obstacles, the current rise in stock worth following the CEO’s tactical strategy statement shows a prospective turn-around for Graphjet Innovation. The business’s investors are set to fulfill on July 30 to vote on a reverse split workout to deal with the noncompliance problem.
Cost Action: According to Benzinga Pro information, GTI skyrocketed 3.84% to $0.073 on Tuesday, with an extra 41.10% gain after-hours, reaching $0.10.
According to Benzinga Edge Stock Rankings, Graphjet stock has unfavorable pattern throughout perpetuity frames. Extra efficiency information are offered here.
Image Courtesy: T.Dallas on Shutterstock.com
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Disclaimer: This material was partly produced with the aid of AI tools and was examined and released by Benzinga editors.
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