Zinger Key Points
- Nukkleus regained Nasdaq compliance after resolving market value and minimum bid price issues through a reverse stock split.
- The resolution boosted investor confidence, driving a 59% after-hours surge in the stock price.
- Feel unsure about the market’s next move? Copy trade alerts from Matt Maley—a Wall Street veteran who consistently finds profits in volatile markets. Claim your 7-day free trial now.
Nukkleus Inc. NUKK shares are trading higher Friday potentially on continued momentum after the company announced it had regained compliance with Nasdaq listing requirements.
What To Know: The strategic acquisition company received notice that it met the required thresholds, resolving prior compliance issues.
To achieve this, Nukkleus implemented a 1-for-8 reverse stock split in October, reducing its outstanding shares from 16.9 million to approximately 2.1 million. With these steps, Nasdaq canceled a hearing initially scheduled for Jan. 21, confirming the company's continued listing.
The resolution marks a turning point for Nukkleus, alleviating concerns about potential delisting and boosting investor confidence in its ability to meet regulatory standards.
NUKK Price Action: Nukkleus shares were up 57.0% at $32.40 at the time of writing, according to Benzinga Pro.
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