Jiuzi Holdings Confronts NASDAQ Bid Price Notice

HANGZHOU, China, Nov. 17, 2023 -- Jiuzi Holdings Inc. JZXN, a rising player in the new energy vehicle (NEV) market, operates an expansive dealership network branded as 'Jiuzi' throughout China, focusing on the distribution of NEVs and related components. Based in Hangzhou, China, Jiuzi Holdings has recently encountered a regulatory challenge from NASDAQ. On November 8, 2023, the company was formally notified of a bid price deficiency according to NASDAQ's marketplace rules. The notice serves as a wake-up call for the company to address the situation where its stock has fallen below the required minimum bid price threshold.

Impact of the NASDAQ Notification

The notification from NASDAQ is a procedural step that companies listed on the stock exchange may face if their shares trade below the minimum allowable bid price of $1 over a consecutive 30 business-day period. Jiuzi Holdings must now evaluate its options to resolve the deficiency and regain compliance with NASDAQ's listing rules to maintain its standing on the exchange. This may entail strategic financial decisions to boost investor confidence and push the stock price back above the necessary benchmark.

Future Prospects for Jiuzi Holdings

Jiuzi Holdings has not rested on its laurels despite the notice. The company is proactive in its approach, reflecting on possible corrective actions, including but not limited to, a potential reverse stock split, which would be subject to shareholder approval. Such strategic moves are designed to uplift the stock's market position and safeguard the company's listing. The team at Jiuzi Holdings remains committed to navigating this challenge and further solidifying their presence in the competitive NEV market in China.

Jiuzi, NASDAQ, Compliance