Argo Blockchain Regains Nasdaq Compliance, Averts Bankruptcy

• Argo Blockchain regains compliance with Nasdaq Listing Rules after fulfilling the minimum bid price requirement of $1.00.
• Argo received notice of compliance from Nasdaq on Jan. 23, 2023, after its ARBK shares maintained the required minimum bid price of $1.00 for ten consecutive trading days.
• Nasdaq confirmed the matter to be closed after Argo fulfilled the bid price requirement before June 12, 2023.

Argo Blockchain, a major cryptocurrency mining company, has just achieved an important milestone. On Jan. 23, 2023, the firm was granted notice of compliance from Nasdaq’s Listing Qualifications Department, signifying that the crypto miner regained compliance with the listing rule of the American stock exchange giant.

This compliance was achieved after Argo’s ARBK shares maintained the required minimum bid price of $1.00 for ten consecutive trading days, which was fulfilled on Jan. 13, 2023. This was after the firm earlier received a notice from Nasdaq on Dec. 16, 2022, stating that the company’s stock closed below the minimum $1.00 for 30 consecutive trading days. The firm was given until June 12, 2023 to rectify the situation.

In response to this news, Argo Blockchain released a press release, stating that Nasdaq had confirmed the matter to be closed after the firm fulfilled the bid price requirement. This is a major victory for the company, as it had previously faced liquidity issues and was making efforts to avoid filing for bankruptcy.

The news of Argo Blockchain regaining compliance with Nasdaq’s listing rules marks an important milestone for the firm. Not only does it mean that the firm has regained its trading rights on the stock exchange, but it also signifies that the firm’s liquidity problems have been addressed and that the company is on its way to financial stability. This is sure to bring a sense of relief to the company, as well as its shareholders and investors.

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