Zoomcar Holdings (ZCAR) just unveiled an announcement.
A company received a notice from Nasdaq indicating that it didn’t meet the minimum market value requirement for its publicly held shares, risking the delisting of its securities. The company has 180 days to comply by maintaining its market value at or above $15 million for at least 10 consecutive business days. While there’s no immediate listing impact, failure to comply could lead to delisting, with the option to appeal or transfer to a market with lower standards. Concurrently, the company’s interim CEO took a 50% pay cut, reducing his salary from $350,000 to $175,000 per annum.
See more insights into ZCAR stock on TipRanks’ Stock Analysis page.
