NOTICE OF DISREGARD -- ToughBuilt Industries, Inc.

Rhea-AI Summary

ToughBuilt Industries has issued a notice urging readers to disregard the press release from November 15, 2021, regarding its 180-day extension granted by Nasdaq to meet minimum bid requirements. This retraction suggests potential miscommunication or error in the earlier announcement. The company is likely addressing compliance issues with Nasdaq's listing standards, which are crucial for maintaining its market presence and investor confidence.

Positive

• None.

Negative

• Potential miscommunication regarding Nasdaq compliance may impact investor perception.
• Reissue of press release could indicate ongoing struggles to meet listing requirements.

News Market Reaction

-6.43%

1 alert

-6.43% News Effect

On the day this news was published, TBLT declined 6.43%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

LAKE FOREST, Calif., Nov. 15, 2021 (GLOBE NEWSWIRE) -- We are advised by ToughBuilt Industries that journalists and other readers should disregard the news release, "ToughBuilt Industries, Inc. Granted 180-Day Extension to Meet Nasdaq Minimum Bid Requirement" issued November 15, 2021, over GlobeNewswire.

FAQ

What does ToughBuilt's retraction of the November 15 press release mean for investors?

The retraction raises concerns about Nasdaq compliance and could affect investor confidence.

How does the 180-day extension impact ToughBuilt's stock performance?

The extension allows ToughBuilt more time to comply with Nasdaq's minimum bid requirements, which is critical for maintaining its stock listing.

Is ToughBuilt still at risk of delisting after the retraction?

Yes, the need for compliance with Nasdaq's listing requirements remains, and failure to do so could lead to delisting.