BIT Mining regains NYSE compliance
Feb. 02, 2023 6:28 AM ETBIT Mining Limited (BTCM)By: Manshi Mamtora, CFA
BIT Mining (NYSE:BTCM) has received a letter from the NYSE, dated January 31, 2023, notifying the company that it has regained compliance with listing standards.
During July 2022, the NYSE notified the company that it was not in compliance as its ADS price was less than $1.00 over a consecutive 30 trading-day period.
The company effected a change to a new ratio of one (1) ADS to one hundred (100) on December 23, which had the same effect as a one-for-ten reverse share split.
Stock price rises 3% pre-market.