Charles & Colvard Regains Compliance With Nasdaq Minimum Bid Price Listing Requirement

Rhea-AI Summary

Charles & Colvard, Ltd. (Nasdaq: CTHR) announces it has regained compliance with Nasdaq's minimum bid price listing requirement, as the company's stock price was $1.00 or greater for the last 10 consecutive business days ending November 27, 2020. President and CEO Don O'Connell noted that this is a significant milestone for the business and reflects their ongoing efforts to enhance brand value and shareholder returns. The company specializes in lab-created gemstones, including moissanite and lab-grown diamonds, and aims to offer high-quality, environmentally responsible fine jewelry.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement.
• Stock price was above $1.00 for 10 consecutive business days.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Dec. 1, 2020 /PRNewswire/ -- Charles & Colvard, Ltd. (Nasdaq: CTHR) (the "Company"), a globally recognized lab created gemstone company specializing in fine jewelry, announced today that it has regained compliance with Nasdaq's minimum bid price continued listing requirement. A letter from the Nasdaq Listing Qualifications Department noted that as of November 27, 2020, the minimum bid price of the Company's common stock was $1.00 per share or greater for the last 10 consecutive business days. Therefore, the Company has regained compliance with Listing Rule 5550(a)(2) and the matter is now closed. 

"Regaining compliance with Nasdaq is an important step forward for the business," said Don O'Connell, President and CEO.

"Regaining compliance with Nasdaq is an important step forward for the business," said Don O'Connell, President and CEO of Charles & Colvard. "We continue to work hard to elevate our brand and drive shareholder value. We're pleased our progress is being recognized and remain diligent in our efforts to execute on our new initiatives, build brand equity and drive positive results."  

About Charles & Colvard, Ltd.

Charles & Colvard, Ltd. (Nasdaq: CTHR) believes fine jewelry can be accessible, beautiful and conscientious. Charles & Colvard is the original pioneer of lab-created moissanite, a rare gemstone formed from silicon carbide. The Company brings revolutionary gemstones and jewelry to market through its pinnacle Forever One^TM moissanite brand and its newly introduced Caydia^TM lab grown diamond brand. Consumers seek Charles & Colvard fashion, bridal and fine jewelry because of its exceptional quality, incredible value and shared beliefs in environmental and social responsibility. Charles & Colvard was founded in 1995 and is based in North Carolina's Research Triangle Park. For more information, please visit www.charlesandcolvard.com.

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SOURCE Charles & Colvard, Ltd.

FAQ

What did Charles & Colvard announce on December 1, 2020?

On December 1, 2020, Charles & Colvard announced it regained compliance with Nasdaq's minimum bid price listing requirement.

When did Charles & Colvard's stock regain compliance with Nasdaq requirements?

Charles & Colvard's stock regained compliance as of November 27, 2020.

What is the significance of Charles & Colvard's compliance with Nasdaq for investors?

Regaining compliance with Nasdaq's listing requirements is a positive indicator for investors, showing stability in stock price and potential for continued business growth.

What is the stock symbol for Charles & Colvard?

The stock symbol for Charles & Colvard is CTHR.