It was on September 7 that the company ReTo Eco-Solutions Inc (NASDAQ:RETO) was last in the news but that did not seem to be a deterrent for investors yesterday as they moved in on the stock.
On Tuesday, the ReTo Eco-Solutions stock ended up with gains of as much as 7% and it could be the right time for investors to take a closer look at the company. The company is involved in providing technological solutions that could help in improving ecological environments. It was back on September 7 this year that the company had made a key announcement.
ReTo Eco-Solutions announced on that day that it had got a written notification from NASDAQ with regards to the fact that its stock was no longer compliant with the minimum bid price requirements of the exchange. It is necessary for companies to be in compliance with that particular rule if they are to stay listed on NASDAQ.
As per the rule, stocks must maintain a minimum bid price of $1 a share and it becomes non-compliant when the price is not maintained for 30 trading days. The letter was sent on the face of the closing bid price of the ReTo Eco-Solutions stock over the course of the 30 business days from July 26 up until September 3 this year.
