Meiwu Technology has regained compliance with Nasdaq's minimum bid price requirement, closing its bid price deficiency matter.
Quiver AI Summary
Meiwu Technology Company Limited announced that it has regained compliance with the Nasdaq Listing Rule 5550(a)(2), which requires its ordinary shares to maintain a minimum bid price of $1.00. This determination was made after the company's shares closed at or above the required price for ten consecutive business days from December 6 to December 20, 2024. As a result, the issue regarding bid price deficiency is now resolved. Meiwu, incorporated in the British Virgin Islands and operating in China, focuses on an online food product sales platform, SMS services, and functional skin care. The company continues to explore growth strategies and has issued forward-looking statements regarding its future performance while acknowledging various risks and uncertainties.
Potential Positives
- The company has regained compliance with Nasdaq Listing Rule 5550(a)(2), indicating improved stock performance.
- This compliance closure reduces regulatory pressure and enhances investor confidence.
- The closing bid price remained at or above $1.00 for 10 consecutive business days, reflecting a stable market position.
Potential Negatives
- The announcement of compliance with Nasdaq Listing Rule 5550(a)(2) highlights the company’s previous struggles with maintaining a minimum stock price, indicating possible volatility in investor confidence.
- The need to regain compliance suggests that the company was at risk of being delisted, which can lead to further scrutiny and potential negative perceptions from investors.
- The press release's focus on forward-looking statements indicates uncertainty and risk factors that may deter potential investors or partners from engagement.
FAQ
What compliance did Meiwu Technology regain with Nasdaq?
Meiwu Technology regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share.
What was the closing bid price period for compliance?
The closing bid price of Meiwu's Ordinary Shares was $1.00 or greater for the last 10 consecutive business days from December 6 to December 20, 2024.
What are the main businesses of Meiwu Technology?
Meiwu operates an online food sales platform, a short message service (SMS) business, and a functional skincare business.
What is the date of incorporation for Meiwu Technology?
Meiwu Technology Company Limited was incorporated on December 4, 2018, in the British Virgin Islands.
What are forward-looking statements in the press release?
Forward-looking statements are predictions about future performance that involve known and unknown risks, uncertainties, and other important factors.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$WNW Hedge Fund Activity
We have seen 3 institutional investors add shares of $WNW stock to their portfolio, and 4 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VIRTU FINANCIAL LLC added 23,478 shares (+inf%) to their portfolio in Q3 2024
- HRT FINANCIAL LP removed 23,110 shares (-100.0%) from their portfolio in Q3 2024
- UBS GROUP AG removed 13,417 shares (-47.7%) from their portfolio in Q3 2024
- MOSS ADAMS WEALTH ADVISORS LLC added 10,000 shares (+inf%) to their portfolio in Q3 2024
- QUBE RESEARCH & TECHNOLOGIES LTD removed 301 shares (-100.0%) from their portfolio in Q3 2024
- MORGAN STANLEY added 293 shares (+inf%) to their portfolio in Q3 2024
- BANK OF AMERICA CORP /DE/ removed 1 shares (-100.0%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Shenzhen, China, Dec. 26, 2024 (GLOBE NEWSWIRE) -- Meiwu Technology Company Limited (“WNW” or the “Company”), (NASDAQ: WNW) announced today announced that it received a formal notification from the Nasdaq Stock Market LLC (“Nasdaq”) that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires the Company’s ordinary shares, no par value each (the “Ordinary Shares”) to maintain a minimum bid price of $1.00 per share.
The Nasdaq staff made this determination of compliance after the closing bid price of the Company’s Ordinary Shares has been at $1.00 per share or greater for the last 10 consecutive business days from December 6, 2024, to December 20, 2024. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and this bid price deficiency matter is now closed.
About Meiwu Technology Company Limited
Meiwu Technology Company Limited (“Meiwu”) is a British Virgin Islands company incorporated on December 4, 2018, with its operations in China through its subsidiaries. Its business includes an online platform for the sales of food products, a short message service (“SMS”) business, and a functional skin care business. Meiwu will continue to explore and implement different strategies to grow its business.
Safe Harbor Statement
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company’s filings with the Securities and Exchange Commission, which are available for review at
www.sec.gov
. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.
Contact
Meiwu Technology Company Limited
Xinliang Zhang
Email:
meiwuBS@usmeiwu.com
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
