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CN ENERGY GROUP Inc (NASDAQ:CNEY) shares are trading higher by 155% to 80 cents during Wednesday’s session after the company announced it has been granted a 180-day extension by Nasdaq to regain compliance with its $1.00 minimum bid price requirement.
What Else: The extension, which runs until May 27, 2025, was approved because the company met all other Nasdaq listing requirements and expressed its intention to address the issue, potentially through a reverse stock split if necessary.
If CN Energy achieves a closing bid price of at least $1.00 per share for ten consecutive business days during this period, it will regain compliance.
The company says it plans to actively monitor its stock price and evaluate options to meet the requirement.
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in CN Energy Group’s case, it is in the Materials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, CNEY has a 52-week high of $3.29 and a 52-week low of $0.25.
Posted In: CNEY
