Presto Automation (PRST) has released an update to notify the public and investors about listing compliance status.
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Presto Automation Inc. has been notified by Nasdaq that it fails to meet the minimum Market Value of Listed Securities of $50 million, risking its listing on the Nasdaq Global Market. Despite this, shares continue to trade while the company has 180 days to comply. If it doesn’t meet the requirement by August 5, 2024, the company could be delisted but may appeal or move to the Nasdaq Capital Market. The company is exploring ways to resolve the issue, but there’s no guarantee of success.
For further insights into PRST stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.