Meiwu Technology (NASDAQ:WNW) stock is heading higher on Tuesday as investors pump up the shares before a delisting goes into effect.
Meiwu Technology was sent a delisting notice by the Listing Qualifications Department of the Nasdaq Exchange late last month. That notice gave the company until today to file an appeal or have its shares delisted from the exchange.
Meiwu Technology hasn’t provided any further updates since then, despite saying it intends to appeal the Listing Qualifications Department’s decision. The company had said that it would submit a plan to the exchange for regaining compliance.
All of this stems from shares of WNW stock remaining below the $1 minimum bid price for too long. The company’s plan needs to outline how it intends to get its stock price back up below the minimum required for listing.
What’s Next for WNW Stock?
Investors are waiting to learn what’s happening with WNW stock next. If the company doesn’t submit a plan, the shares could be delisted today. However, the Nasdaq could also delay that decision if Meiwu Technology comes to it with a proposal.
No matter the case, investors in WNW stock are going to want to keep an eye on their shares today. Volatility has caused them to increase 112.9% as of Tuesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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