Argo officially announced on Jan. 23 that the company regained compliance with Nasdaq’s minimum bid price rule amid the share price recovery.
The Nasdaq stock market listing qualifications department has informed Argo that it successfully met a requirement to maintain a minimum closing bid price of $1 for ten consecutive trading days. This requirement was met on Jan. 13, with Nasdaq confirming that it considers the matter closed.
The announcement comes about a month after Nasdaq notified Argo on Dec. 16 that the firm wasn’t compliant with Nasdaq’s minimum bid price requirement. The issue was due to Argo’s common stock failing to maintain the minimum bid price of $1