Kaixin Auto Holdings (KXIN) has released an update.
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Kaixin Auto Holdings has been granted a temporary exception by the Nasdaq Hearings Panel to meet compliance requirements by December 13, 2024, including a reverse stock split aimed at maintaining the minimum bid price rule. The company must achieve a closing bid price of $1 or more for ten consecutive trading sessions to avoid delisting. An extraordinary general meeting is planned for October 1, 2024, to seek shareholder approval for the reverse stock split.
For further insights into KXIN stock, check out TipRanks’ Stock Analysis page.