Farmmi Inc (NASDAQ:FAMI) shares are trading lower by 4.11% at around $0.08. Farmmi Monday received determination from Nasdaq to delist the company’s securities from The Nasdaq Capital Market because the company’s securities have had a closing bid price below $0.10 for ten consecutive trading days.
Farmmi also currently fails to satisfy the requirement that the closing bid price of its securities remain at $1.00 or higher as required by Nasdaq.
Farmmi plans to appeal Nasdaq’s determination to a hearings panel and expects the recently approved consolidation of its ordinary shares will take effect on May 31, 2022.
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Farmmi acts as a supplier of agricultural products.
According to data from Benzinga Pro, Farmmi has a 52-week high of $0.66 and a 52-week low of $0.07.
