Allbirds Grapples with Nasdaq Compliance and Stock Challenges

Allbirds (BIRD) just unveiled an update.

Allbirds, Inc. faces a challenge as its Class A common stock’s price dropped below $1 for 30 straight days, violating Nasdaq’s minimum bid price rule. The company has 180 days to remedy the situation and ensure its stock price exceeds $1 for at least 10 consecutive days. If unsuccessful, a second 180-day period is possible, potentially requiring a move to The Nasdaq Capital Market or other corrective actions like a reverse stock split. The company’s plan to regain compliance is currently undecided, and it has issued a press release regarding the notice received from Nasdaq.

See more data about BIRD stock on TipRanks’ Stock Analysis page.