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.
- Get real-time earnings alerts before the market moves and access expert analysis that uncovers hidden opportunities in the post-earnings chaos.
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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