NewGenIvf Group Limited (NASDAQ: NIVF) Stock Rockets After Nasdaq Notification
If you have been looking into the biggest gainers on Tuesday, then it is unlikely you missed the NewGenIvf Group Limited (NASDAQ: NIVF) stock, which clocked staggering gains of 159% for the day yesterday. The rally was triggered by an announcement from the company the day before.
What was the announcement?
On October 14 NewGenIvf Group Limited announced that it had been notified by the Listing Qualifications Department of The Nasdaq Stock Market LLC, through a letter, that it was not in compliance with the closing bid price requirement rules.
The Key Details
The letter, known as a Deficiency Letter in official terms, informed the company that its Class A Ordinary Shares could fulfill the minimum closing bid price of $1 for 30 straight business days. That was in violation of the NASDAQ Listing Rule 5400 (a) (1).
The company was provided with a period of 180 calendar days, effectively until April 7, 2025, within which it would need to regain compliance with the rule. However, it was also stated that if at any period during its shares managed to maintain the minimum bid price of $1 for 10 straight business days, it would regain compliance. The exchange stated that the NewGenIvf Group would also be sent a letter confirming the fact that the company had become compliant again.
Traders Notes
| +/- EMA(20) | 0.85 (+43.53%) |
| +/- SMA(50) | 0.79 (+54.43%) |
| +/- SMA(200) | 4.08 (-70.10%) |
| 5-Day Perf. | +108.87% |
| 1-Month Perf. | +74.94% |
| 3-Month Perf. | +26.37% |
| 6-Month Perf. | +76.35% |
| YTD Perf. | -88.81% |
| 1-Year Perf. | -88.8% |
| RSI(14) | 57.86 |
| ATR(14) | 0.34 |
| ADX(14) | 27.38 |
