Bruush Oral Care (NASDAQ: BRSH) stock soared almost 30% on Tuesday amidst a lack of evident catalysts or company-specific news. However, this upward momentum stands in stark contrast to recent challenges faced by the company on the Nasdaq Exchange.
Last week, Bruush Oral Care (BRSH) received a delisting notice from the Nasdaq Exchange. The notice pointed out that BRSH shares had been languishing below the minimum bid price of $1 for an extended period. The company was first notified of this issue in November 2023, prompting the management to seek extensions over the past year to regain compliance.
However, BRSH stock continued its downward trend, plummeting to less than 10 cents per share for a consecutive 10-day period, triggering another delisting notice. In response, the company has initiated an appeal process, with a meeting scheduled before the Nasdaq Hearings Panel on April 25, 2024.
Bruush Oral Care is considering various options, including a reverse share split, to meet the Nasdaq Listing Rules for continued trading on the exchange.
Bruush Oral Care (NASDAQ: BRSH) Stock Movement
BRSH stock surged 29.38% to close at $0.06 on Tuesday. The traders had exchanged hands with 163,557,208 (163.55 million) shares compared to the average daily trading volume of 6.89 million.
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