Smart glass technology company View, Inc. (NASDAQ: VIEW) has been notified by the Nasdaq Stock Market that it no longer meets a key listing requirement, according to a recent 8K SEC filing. The notification, received on Thursday, February 23, 2024, states that View's market value of publicly held shares has fallen below the Nasdaq's minimum threshold.
The Nasdaq Listing Rule 5450(b)(1)(C) requires that the market value of a company's publicly held shares remains at or above $5 million for 30 consecutive business days. View, Inc., known for its innovations in dynamic glass, has been under this threshold for the stipulated period, prompting the notice from Nasdaq.
This development could have implications for the company's continued listing on the stock exchange. View, Inc. will now be subject to the procedures and timelines set by Nasdaq to address this deficiency. Typically, companies are granted a compliance period during which they can work to meet the minimum requirement.
The company has not yet made a public statement regarding its plans to regain compliance with the Nasdaq Listing Rule. Investors and market watchers will be looking for View's response and strategy to address the issue, which could include measures such as financial restructuring, strategic partnerships, or other initiatives to boost shareholder value.
The notice from Nasdaq is a procedural step that can affect a company's stock performance and investor perceptions. It is important to note that receiving such a notice is not uncommon, and companies often take steps to rectify the situation within the given timeframe.
This information is based on a press release statement and reflects the latest developments regarding View, Inc. as reported in its SEC filing. The company's stock performance and future compliance efforts will be closely monitored by investors and regulatory bodies alike.
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