UK-based cryptocurrency mining company Argo Blockchain has successfully fulfilled the criteria to remain listed on the Nasdaq. As a result of this, the company’s shares will continue to be traded on the platform.
Recall that the stock exchange warned in December the firm it might be delisted as its shares had been trading below $1 for more than 30 days, which was a violation of the stock’s rules. Argo Blockchain later asked to suspend trading.
According to the press release:
“In order to regain compliance with the criterion, the company was required to maintain a minimum closing offer price of $1 for ten consecutive trading days. This requirement was met on January 13, 2023. Accordingly, the company has reinstated compliance with Listing Rule 5450(a)(1), and Nasdaq has confirmed that it considers the matter closed.”
The company applied to have US Depository Receipts for its shares listed on Nasdaq in August 2021 and Argo Blockchain started to trade its shares under the ticker ARBK a month later.
