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Linkers Industries Ltd. (NASDAQ:LNKS) rose 11.65% to $1.15 in after-hours trading on Monday after the company said Nasdaq confirmed it had regained compliance with its minimum bid price requirement.
On Feb. 27, Linkers received a letter from Nasdaq's Listing Qualifications Department confirming it had regained compliance with Listing Rule 5550(a)(2), which requires Nasdaq Capital Market companies to maintain a minimum $1.00 closing bid price. Companies that fall below the threshold for 30 consecutive business days are issued a deficiency notice and given 180 calendar days to regain compliance.
Nasdaq confirmed the stock held a closing bid price at or above $1.00 per share from Jan. 29 through Feb. 26.
Linkers Industries stated that the listing matter has been closed.
The Malaysia-based manufacturer and supplier of wire and cable harnesses has a market capitalization of $13.84 million, with a 52-week high of $1.68 and a 52-week low of $0.27.
The Relative Strength Index (RSI) of LNKS stands at 50.46.
Over the past 12 months, the stock has gained 58.46%.
Price Action: According to Benzinga Pro data, LNKS closed the regular session down 12.71% at $1.03.
Currently, the stock is positioned at about 53.9% above its 52-week low.
Benzinga’s Edge Stock Rankings indicate that LNKS has a positive price trend across all time frames.
Photo Courtesy: Beautyimage on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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