MicroCloud Hologram (NASDAQ: HOLO) stock soared after regaining Nasdaq rule compliance.
MicroCloud Hologram (HOLO) has successfully regained compliance with Nasdaq’s Listing Rule 5550(a)(2). This rule mandates stocks listed on the exchange to maintain a minimum bid price of $1 for a specific number of consecutive days.
MicroCloud initially received notice of non-compliance with the rule in late November. However, as of the market close on February 21, the company has regained compliance.
MicroCloud’s Nasdaq Compliance
Nasdaq had alerted MicroCloud in late 2023 about its non-compliance, citing that its shares had not reached the $1 mark for 31 consecutive trading days. However, following a successful streak where HOLO stock traded above $1 for 13 consecutive trading days leading up to February 21, the company now meets Nasdaq’s requirements again.
This achievement means that MicroCloud Hologram will maintain its position on the exchange, avoiding the potential move of its shares to an over-the-counter (OTC) exchange.
Earlier this month, MicroCloud Hologram (HOLO) revealed its plan to become a part of the prestigious Communications Industry Association, joining the ranks of industry giants such as Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), and Meta Platforms (NASDAQ: META).
MicroCloud Hologram (NASDAQ: HOLO) Stock Performance
HOLO stock surged 81.54% to close at $12 on Monday. The traders had exchanged hands with 53,253,325 (53.25 million) shares compared to the average daily trading volume of 4.92 million.
