ETAO International Co. Ltd. (NASDAQ:ETAO) shares are trading lower by 39% to $0.28 Tuesday morning after the company received a letter from Nasdaq stating that it’s at risk of having its securities delisted due to not meeting the bid price requirement.
Unless an appeal is requested, trading for its ordinary shares will halt on December 22. ETAO intends to appeal this decision and is actively devising a plan to meet Nasdaq’s listing rules.
This notification is in line with Nasdaq’s regulations on disclosure regarding compliance issues.
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According to data from Benzinga Pro, ETAO has a 52-week high of $54.60 and a 52-week low of $27.85.
