Joe’s Jeans Inc. said Tuesday it received a delisting warning from Nasdaq because its stock has been trading below $1 a share for 30 consecutive trading days.
The downtown L.A. denim company was given until June 5 – 180 days – to raise and maintain its stock price above $1 for at least 10 consecutive days or risk being delisted.
The company received a similar warning last year, but corrected the issue this April when announcements of revenue growth and addition of a board member boosted the stock above $1.
Shares closed down 1 cent, or less than 1 percent, to 94 cents on Nasdaq.
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