What's Going On With U Power (UCAR) Shares?

Zinger Key Points
  • U Power shares are trading lower by 26.5% Wednesday morning.
  • The company received a delisting notice from the Nasdaq Stock Market.

U Power Ltd UCAR shares are trading lower by 26.5% to $0.075 Wednesday morning after the company received a delisting notice from the Nasdaq Stock Market due to its ordinary shares’ closing bid price falling below $0.10 for ten consecutive trading days, as per the Low Priced Stocks Rule.

Additionally, the company failed to meet the requirement of maintaining a closing bid price of $1.00 or higher, as mandated by the Minimum Bid Price Rule. Unless the company appeals, trading of its common stock will be suspended on February 23, and its ordinary shares will be removed from the Nasdaq Stock Market.

The company plans to appeal this determination to a Hearings Panel on February 21, which would temporarily halt the suspension and delisting process. U Power intends to monitor its share price and may implement measures such as a reverse share split to regain compliance with Nasdaq Listing Rules for continued listing.

See Also: Mortgage Rates Climb Above 7% As Hot Inflation Dampens Expectations For Fed Cuts

How To Buy UCAR Stock

By now you're likely curious about how to participate in the market for U Power – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, UCAR has a 52-week high of $75.00 and a 52-week low of $0.062.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Newswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!