Atif Holdings Ltd. (NASDAQ: ATIF) stock gained by 0.21% at last close while the ATIF stock price surges by 5.98% in the after-hours trading session. ATIF Holdings Limited is a holding company with wealth management, investment holding, and digital financial information businesses based in Los Angeles, California, with foreign business centers in Hong Kong and Shenzhen, China, to assist its international services.
ATIF stock’ Recent Development
ATIF Holdings Limited said that it got a letter notification from The NASDAQ Stock Market’s Listing Qualifications Department on July 26, 2021, stating. According to the notification, the Company is not in compliance with the Nasdaq Listing Rules’ minimum bid price criterion of $1.00 per share. The Company no longer satisfies the minimum bid price criteria set out in Listing Rule 5550(a) based on the final bid price of ATIF’s listed securities for the past 30 straight business days from June 11, 2021, to July 23, 2021. The Notice is simply a warning of deficiency, not of impending delisting, and has no immediate impact on the Company’s securities’ status or trading on the Nasdaq Capital Market.
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According to the Notice, ATIF has 180 days from the date, or until January 24, 2022, to restore conformance with the Listing Rules, as specified by Listing Rule 5810(c)(3)(A). The Company’s registered securities must be around US$1.00 for at least 10 consecutive working days to recover compliance with the Listing Rules. If ATIF fails to restore compliance by January 24, 2022, it may be entitled to extra time to recover compliance or risk delisting.
Between now and January 24, 2022, ATIF plans to evaluate the final bid price of its ordinary shares and analyze its alternatives for regaining conformity within the compliance period. The Company plans to correct the problem and return to full compliance with the Listing Rules.
ATIF stock’ Other significant Past Development
ATIF Holdings Limited stated that its newly formed ATIF-1 Hedge Fund has got a US$1 million subscription from Jun Liu, the company’s President and Chairman of the Board. Liu Jun’s subscription demonstrates his confidence in the fund’s leadership team and his expectation that ATIF-1 Hedge Fund will offer investors significant results in the future.