Agape ATP Corporation Regains Compliance with Nasdaq’s Minimum Bid Price Rule

Rhea-AI Summary

Agape ATP (ATPC) has regained compliance with Nasdaq's minimum bid price rule. On September 17, 2024, ATPC received confirmation from Nasdaq's Listing Qualifications Department that its closing bid price had been $1.00 or greater for 10 consecutive trading days, from August 30 to September 16, 2024. This successful compliance with Nasdaq Listing Rule 5550(a)(2) resolves the previous listing concern, and the matter is now closed. The announcement marks a positive development for ATPC, ensuring its continued listing on the Nasdaq Stock Market.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement
• Maintained closing bid price of $1.00 or higher for 10 consecutive trading days
• Resolved listing concern, ensuring continued presence on Nasdaq

Negative

• None.

Insights

Financial Analyst

Agape ATP 's regaining of Nasdaq compliance is a positive development for the company and its shareholders. This news indicates that:

• The stock price has stabilized above $1 for a sustained period, suggesting improved market perception.
• The risk of delisting has been eliminated, preserving access to capital markets and institutional investors.
• Compliance may boost investor confidence and potentially attract new investors.

However, investors should remain cautious. While compliance is crucial, it doesn't necessarily reflect improved fundamentals. It's essential to examine the company's financial health, growth prospects and market position for a comprehensive investment decision.

Market Research Analyst

This compliance news signals a turning point for Agape ATP Key implications include:

• Enhanced market visibility and credibility, potentially leading to increased trading volume and liquidity.
• Reduced regulatory scrutiny, allowing management to focus on core business operations.
• Possible inclusion in more index funds and ETFs that require Nasdaq compliance.

However, the root cause of the previous non-compliance should be investigated. Was it due to market-wide factors or company-specific issues? Understanding this context is important for assessing the sustainability of the current price levels and future stock performance.

KUALA LUMPUR, MALAYSIA / ACCESSWIRE / September 19, 2024 / AGAPE ATP Corporation ("ATPC" or the Company), is pleased to announce that it has regained compliance with the $1 minimum bid price requirement under the continued listing requirements of the Nasdaq Stock Market LLC ("Nasdaq") and that the matter is now closed.

On September 17, 2024, the Company received a written notification from Nasdaq's Listing Qualifications Department confirming that the closing bid price of the Company's ordinary shares has been $1.00 per share or greater for 10 consecutive trading days, from August 30, 2024 to September 16, 2024. Accordingly, the Company has successfully regained compliance with Nasdaq Listing Rule 5550(a)(2).

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About AGAPE ATP Corporation

Agape ATP Corporation (ATPC) is dedicated to enhancing the quality of life and promoting sustainable development. With a strong foundation built on two core business pillars, ATPC specialises in the provision of health and wellness products that caters to the diverse needs of its customers, ensuring their well-being and vitality. Additionally, APTC delivers comprehensive energy-saving solutions that empower companies to drive sustainability initiatives, reduce energy consumption, and achieve their sustainability goals.

For more information, visit www.agapeatpgroup.com.

Issued By: Swan Consultancy Sdn. Bhd. on behalf of Agape ATP Corporation

For more information, please contact:

Jazzmin Wan

Email: j.wan@swanconsultancy.biz

Mandy Tan

Email: m.tan@swanconsultancy.biz

FORWARD LOOKING STATEMENT

Certain statements contained in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected benefits and outcomes of the relaunch of ATPC Green Energy, the support from B&H Intec Solution, and the potential for energy-saving solutions in various sectors. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the Company's ability to execute its strategies, manage growth, and maintain its corporate culture; the Company's future business development, financial conditions, and results of operations; expectations regarding demand for and market acceptance of our products and services; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Malaysia and the international markets the Company plans to serve, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and AGAPE ATP Corporation specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

SOURCE: Agape ATP Corporation

View the original press release on accesswire.com

FAQ

What rule did Agape ATP (ATPC) regain compliance with on September 17, 2024?

Agape ATP (ATPC) regained compliance with Nasdaq's minimum bid price rule, specifically Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share.

How long did ATPC maintain a closing bid price above $1.00 to regain Nasdaq compliance?

ATPC maintained a closing bid price of $1.00 or greater for 10 consecutive trading days, from August 30, 2024 to September 16, 2024.

What was the outcome of ATPC regaining compliance with Nasdaq's minimum bid price rule?

As a result of regaining compliance, the listing concern for ATPC has been resolved, and the matter is now closed, ensuring the company's continued listing on the Nasdaq Stock Market.