BEIJING - Datasea Inc. (NASDAQ: DTSS), a technology company specializing in intelligent acoustics and 5G messaging in China, has regained compliance with the Nasdaq's minimum bid price requirement. The company announced that from January 23 to February 5, 2024, the closing bid price of its common stock remained at $1.00 per share or greater for 10 consecutive business days, satisfying the Nasdaq Listing Rule 5550(a)(2).
This development marks the conclusion of the compliance issue, according to a notification received from the Nasdaq Listing Qualifications Department on February 6, 2024. The company's stock had previously been under scrutiny for not meeting the minimum bid price criterion, a key standard for continued listing on the exchange.
Datasea's operations are centered around the development of advanced technologies in the fields of intelligent acoustics and 5G messaging. The company's innovative approach includes ultrasonic sterilization methods aimed at combating viruses and preventing infections, as well as directional sound and medical ultrasonic cosmetology. With a strong emphasis on research and development, Datasea's products are built on a foundation of cutting-edge technology.
In a strategic move to expand its global presence, Datasea established a wholly-owned subsidiary, Datasea Acoustics LLC, in Delaware in July 2023. This step underscores the company's dedication to intelligent acoustics and its ambition to introduce its acoustic solutions to the US market.
The information in this article is based on a press release statement from Datasea Inc.
InvestingPro Insights
Datasea Inc. (NASDAQ: DTSS) has shown resilience by meeting Nasdaq's minimum bid price requirement, but it's important for investors to look beyond this compliance and understand the company's financial health and market performance. Here's what real-time data from InvestingPro reveals:
InvestingPro Data:
- Market Cap (Adjusted): 4.92M USD
- Revenue last twelve months as of Q1 2024: 13.93M USD
- Price, Previous Close: 2.46 USD
InvestingPro Tips:
- Datasea is currently trading at a low revenue valuation multiple, which may appeal to value investors seeking entry points into the technology sector.
- The stock has experienced significant price volatility, which could be a point of concern for risk-averse investors. It's worth noting that the stock has fared poorly over the last month, with a 1 Month Price Total Return as of Day 38 of 2024 at -31.93%.
For readers interested in a deeper dive into Datasea's financial metrics and stock performance, there are additional InvestingPro Tips available. For instance, the company's weak gross profit margins and challenges in generating free cash flow are areas that potential investors should consider. With a total of 12 InvestingPro Tips listed, these insights can help build a more comprehensive picture of Datasea's investment potential.
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