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Aerwins Technologies (NASDAQ:AWIN) stock is on the rise Tuesday despite the solar technology company getting a delisting notice.
That notice comes from the Listing Qualifications Department of the Nasdaq Exchange. This has the exchange planning to delist the company’s shares on Friday unless it makes an appeal.
Aerwins Technologies has confirmed that it does plan to appeal the Nadaq’s decision. It’s also worth mentioning that the company already appealed this decision once before back in April.
Why Is AWIN Stock Facing Delisting?
The issue with AWIN stock is that it has been trading under the minimum bid price for some time now. For example, the stock closed out Monday at 11 cents per share. This has the stock below the $1 minimum price that is required to remain on the exchange.
Aerwins Technologies is facing other issues with keeping its stock on the Nasdaq Exchange. That includes its market value sitting below $50 million and its minimum Market Value of Publicly Held Shares being below $15 million.
With this news comes heavy trading of AWIN stock on Tuesday morning. As of this writing, more than 14 million shares have changed hands. That’s already well above its daily average trading volume of about 8 million shares.
AWIN stock is up 26% as of Tuesday morning but is down 99% year-to-date as of Monday’s close.
Investors looking for more of the most recent stock market stories on Tuesday will want to keep reading!
We’re covering all of the hottest stock market news worth reading about today! Among that is what has shares of Ascent Solar Technologies (NASDAQ:ASTI) stock rising, the biggest pre-market stock movers this morning and more. All of that news is ready to go at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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