{"id":27439,"date":"2024-08-22T21:45:11","date_gmt":"2024-08-22T18:45:11","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=27439"},"modified":"2024-08-22T19:27:40","modified_gmt":"2024-08-22T16:27:40","slug":"nyc-stock-exchange-flags-sos-for-noncompliance","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/nyc-stock-exchange-flags-sos-for-noncompliance\/","title":{"rendered":"NYC Stock Exchange Flags SOS for Noncompliance"},"content":{"rendered":"<p>The New York Stock Exchange (NYSE) requires all listed securities to maintain an average closing price of $1 or higher. SOS Limited, a blockchain service provider, has received a noncompliance notice from the NYSE due to its stock price falling below $1 for 30 consecutive trading days.<\/p>\n<p>SOS must elevate its share price and maintain an average above $1 within six months to avoid suspension or delisting.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/nyc-stock-exchange-flags-sos-for-noncompliance\/#Immediate_Impact_on_Shareholders\" title=\"Immediate Impact on Shareholders\">Immediate Impact on Shareholders<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/nyc-stock-exchange-flags-sos-for-noncompliance\/#SOS_Stock_Price_Decline\" title=\"SOS Stock Price Decline\">SOS Stock Price Decline<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Immediate_Impact_on_Shareholders\"><\/span>Immediate Impact on Shareholders<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to SOS, the compliance process allows the company to regain its listing status if it meets the $1 closing price requirement on the last trading day of any calendar month during the six-month period, with an average closing price of at least $1 over the preceding 30 trading days.<\/p>\n<p>The noncompliance notice does not immediately affect the trading status of SOS\u2019s American depositary shares (ADSs), which will remain listed and traded on the NYSE during the cure period, provided other listing requirements are met.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SOS_Stock_Price_Decline\"><\/span>SOS Stock Price Decline<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>If SOS fails to achieve a closing share price of $1 and an average closing price of $1 by the end of the six-month period, the NYSE will begin suspension and delisting procedures.<\/p>\n<p><em>Might interest you: <a href=\"https:\/\/coinengineer.net\/blog\/top-altcoins-of-the-day-as-the-crypto-market-gains-momentum\/\">Top Altcoins of the Day as the Crypto Market Gains Momentum<\/a><\/em><\/p>\n<p>SOS Limited\u2019s share price recently dropped 4.13% to $0.70 in pre-market trading on Nasdaq. As depicted in the accompanying chart, SOS shares briefly hit $1 on May 22 but have since remained below that threshold.<\/p>\n<p>In a similar case, the NYSE had previously warned crypto custody and trading platform Bakkt about potential delisting if it did not increase its average closing share price above $1. Bakkt faced the same noncompliance issue with its share price closing below $1 on average over a 30-day trading period.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The New York Stock Exchange (NYSE) requires all listed securities to maintain an average closing price of $1 or higher. SOS Limited, a blockchain service provider, has received a noncompliance notice from the NYSE due to its stock price falling below $1 for 30 consecutive trading days. SOS must elevate its share price and maintain<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[8090,3396,8088,8089],"class_list":["post-27439","post","type-post","status-publish","format-standard","hentry","category-crypto-news","category-news","tag-new-york-stock-exchane","tag-nyse","tag-sos","tag-sos-blockchain"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NYC Stock Exchange Flags SOS for Noncompliance - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/nyc-stock-exchange-flags-sos-for-noncompliance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NYC Stock Exchange Flags SOS for Noncompliance - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"The New York Stock Exchange (NYSE) requires all listed securities to maintain an average closing price of $1 or higher. 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