Ekaterina Zelenkova

Digital Angel Corporation (NASDAQ:DIGA) Pending Ejection from NASDAQ

by Ekaterina Zelenkova April 1, 2010
DIGA_price_chart.jpgYesterday, the stock of Digital Angel Corporation (NASDAQ:DIGA) made a modest attempt to enter the track of NASDAQ requirements. The attempt was still not good enough to cover them, since the price of DIGA shares was below the dreamed $1.

DIGA stock rose by $0.13, or 27,6%, to $0.60 in the session. Shares kept the upward price trend from the beginning of February.

More than 1 million volume traded yesterday was also significant in compliance with the same from the beginning of the month.

At the beginning of December, 2009, DIGA received a notification from NASDAQ that company's stock is not in compliance with the NASDAQ's requirements for continued listing. The reason for this was that DIGA's stock bid price closed below the minimum of $1.00 during the previous 30 business days, according the price requirements of NASDAQ.

If DIGA does not regain compliance with the above rule by June 8, 2010, the NASDAQ will determine whether the company meets the NASDAQ initial listing criteria, except for the bid price requirement, and if it does, company will be granted an additional 180 calendar day compliance period.

Till the beginning of June there are few weeks. It seems that this NASDAQ price requirement for continued inclusion is temporarily violated by Digital Angel Corporation since the begging of December, without taking in consideration the continuous upward price trend.

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