Recon Technology Regains Compliance with Nasdaq Minimum Bid Price Requirement
Nasdaq confirms Recon Technology’s shares met the $1.00 bid price for 10 straight days, resolving a prior listing deficiency notice.
Rhea-AI Summary
Recon Technology (RCON)/b) has regained compliance with Nasdaq’s minimum bid price requirement under Listing Rule 5550(a)(2) as of September 16, 2026.Nasdaq notified the company that it is now in compliance with all applicable listing standards, closing the prior deficiency matter. The earlier issue began after a May 4, 2026 notice that Recon’s Class A ordinary shares had traded below the required $1.00 minimum bid price for 30 consecutive business days. Nasdaq’s September 16, 2026 letter confirmed that, from September 1 through September 15, 2026, the closing bid price of Recon’s Class A ordinary shares was at or above $1.00 per share for 10 consecutive business days, satisfying the rule’s cure requirement.
Positive
- Nasdaq confirms Recon is back in compliance with all listing standards as of September 16, 2026
- Closing bid price met or exceeded $1.00 for 10 consecutive business days from September 1–15, 2026
Negative
- Company previously failed to meet the $1.00 minimum bid price for 30 consecutive business days before May 4, 2026
Details
Market reaction after minimum bid compliance: RCON +6.20%
Following this news, RCON has gained 6.20%, reflecting a notable positive market reaction. Argus tracked a peak move of +5.9% during the session. Our momentum scanner has triggered 11 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $1.37. Trading volume is exceptionally heavy at 12.3x the average, suggesting very strong buying interest.
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Key Figures
- Minimum bid price
- $1.00 per share
- Nasdaq Listing Rule 5550(a)(2) requirement
- Compliance period
- 10 consecutive business days
- September 1 through September 15, 2026
- Prior deficiency period
- 30 consecutive business days
- Prior minimum bid price failure
Historical Context
-
Nasdaq notified Recon of a $1.00 minimum bid deficiency after 30 business days.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
minimum bid price requirement regulatory
closing bid price financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
As previously disclosed, on May 4, 2026, the Company received a notification letter from Nasdaq advising that its Class A ordinary shares had failed to maintain a minimum bid price of
In the September 16, 2026 letter, Nasdaq confirmed that, for the ten consecutive business days from September 1, 2026 through September 15, 2026, the closing bid price of the Company's Class A ordinary shares had been at
About Recon Technology, Ltd ("RCON")
Recon Technology, Ltd (NASDAQ: RCON) is the People's Republic of China's first NASDAQ-listed non-state-owned oil and gas field service company. Recon supplies China's largest oil exploration companies with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measure for increasing petroleum extraction levels, reducing impurities and lowering production costs. Through the years, RCON has taken leading positions within several segmented markets of the oil and gas field service industry. RCON also has developed stable long-term cooperation relationship with its major clients. For additional information please visit: http://www.recon.cn/.
Forward-Looking Statements
Recon includes "forward-looking statements" within the meaning of the federal securities laws throughout this press release. A reader can identify forward-looking statements because they are not limited to historical fact or they use words and phrases such as "scheduled," "may," "will," "could," "should," "would," "expect," "believe," "anticipate," "project," "plan," "estimate," "forecast," "goal," "objective," "committed," "intend," "continue," "will likely result," "look forward to," "well positioned," and similar expressions that concern Recon's strategy, plans, intentions or beliefs about future occurrences or results. Forward-looking statements are subject to risks, uncertainties and other factors that may change at any time and may cause actual results to differ materially from those that Recon expected. Many of these statements are derived from Recon's operating budgets and forecasts, which are based on many detailed assumptions that Recon believes are reasonable, or are based on various assumptions about certain plans, activities or events which we expect will or may occur in the future. However, it is very difficult to predict the effect of known factors, and Recon cannot anticipate all factors that could affect actual results that may be important to an investor. All forward-looking information should be evaluated in the context of these risks, uncertainties and other factors, including those factors disclosed under "Risk Factors" in Recon's most recent Annual Report on Form 20-F and any subsequent half-year financial filings on Form 6-K filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by the cautionary statements that Recon makes from time to time in its SEC filings and public communications. Recon cannot assure the reader that it will realize the results or developments Recon anticipates, or, even if substantially realized, that they will result in the consequences or affect Recon or its operations in the way Recon expects. Forward-looking statements speak only as of the date made. Recon undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements included herein or that may be made elsewhere from time to time by, or on behalf of, Recon.
View original content:https://www.prnewswire.com/news-releases/recon-technology-regains-compliance-with-nasdaq-minimum-bid-price-requirement-302883026.html
SOURCE Recon Technology, Ltd
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What specific Nasdaq rule did Recon Technology regain compliance with?
Recon Technology regained compliance with Nasdaq Listing Rule 5550(a)(2), which sets the minimum bid price requirement for continued listing on the market.
What price performance allowed Recon to cure the Nasdaq bid price deficiency?
Nasdaq confirmed that for the 10 consecutive business days from September 1, 2026 through September 15, 2026, the closing bid price of Recon’s Class A ordinary shares was $1.00 per share or greater, satisfying the cure requirement.
What is the status of Nasdaq’s previous deficiency matter for Recon?
Nasdaq has advised that the minimum bid price deficiency matter is now closed, and Recon is considered in compliance with all applicable listing standards.