Nasdaq warns FingerMotion (NASDAQ: FNGR) on sub-$1 bid price and possible delisting
Rhea-AI Filing Summary
FingerMotion, Inc. received a Nasdaq deficiency letter because its common stock closed below the $1.00 minimum bid price for 30 consecutive business days, putting its Nasdaq Capital Market listing at risk. The stock continues to trade under the symbol FNGR while the company works to regain compliance.
FingerMotion has until December 28, 2026, a 180‑day window, to lift its closing bid price to at least $1.00 per share for 10 consecutive business days. If it still meets other Nasdaq listing standards, it may receive a second 180‑day period and could use a reverse stock split to boost the share price. Failure to regain compliance could lead to delisting, though the company would have the right to appeal.
Positive
- None.
Negative
- Nasdaq minimum bid price deficiency formally identified after 30 consecutive business days below $1.00, creating a clear delisting risk if compliance is not regained within the allowed cure periods.
Insights
Nasdaq bid-price deficiency puts FingerMotion’s listing status at risk.
Nasdaq notified FingerMotion that its common stock failed the $1.00 minimum bid price for 30 consecutive business days, triggering a formal deficiency status. The shares remain on the Nasdaq Capital Market while the company is given time to cure the issue.
The company has an initial 180‑day period, until December 28, 2026, to restore compliance by achieving a closing bid of at least $1.00 for 10 consecutive business days. Nasdaq rules also allow a second 180‑day period if other quantitative listing standards are satisfied.
Potential actions include a reverse stock split, which must be completed no later than 10 business days before the current compliance date if used during this initial period. If the company does not regain compliance, Nasdaq may move toward delisting, after which FingerMotion could appeal to a hearings panel.
8-K Event Classification
Key Figures
Key Terms
Minimum Bid Price Requirement financial
Nasdaq Listing Rule 5550(a)(2) regulatory
deficiency letter regulatory
Nasdaq Capital Market financial
reverse stock split financial
FAQ
What Nasdaq issue did FingerMotion (FNGR) disclose in this 8-K?
How long does FingerMotion (FNGR) have to fix the Nasdaq bid price deficiency?
What must happen for FingerMotion (FNGR) to regain Nasdaq minimum bid price compliance?
Can FingerMotion (FNGR) receive more time beyond December 28, 2026 to meet Nasdaq rules?
Is FingerMotion (FNGR) considering a reverse stock split to address the bid price issue?
What happens if FingerMotion (FNGR) cannot regain Nasdaq compliance?
AI-generated analysis. How Rhea-AI works. Not financial advice.