N2OFF Stock Surges As Nasdaq Grants 180-Day Extension To Regain Compliance: Retail Sentiment Mixed
By Stocktwits Inc | First Published Jan 8, 2025, 11:03 PM ISTN2Off’s stock price needs to be above $1 for a minimum of 10 consecutive days. The company says it will consider a reverse stock split, if need be.
Shares of N2Off Inc. (NITO) rose in morning trade on Wednesday after the company received a 180-day extension from the Nasdaq to regain compliance with the exchange’s listing requirements.
N2Off stock price gained over 4% at the time of writing as news of the Nasdaq notification went out.
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According to the notification, N2Off has until Jul. 7 to regain compliance with Nasdaq’s listing requirements, which says a stock needs to maintain a minimum bid price of $1 for a minimum of 10 consecutive days.
At the time of writing, N2Off share price was hovering around $1.42.
However, N2Off said it will consider a reverse stock split to regain compliance, if need be.
“The Company is currently monitoring the closing bid price of its common stock and will consider available options, including a reverse stock split, if appropriate, to regain compliance with the Minimum Bid Price Requirement by July 7, 2025,” it said in its filing.
This comes days after N2Off signed a binding term sheet with Solterra Brand Services Italy (SBSI) to develop a new solar project in Italy.
In addition to this, N2Off also announced progress in its Germany solar project – its joint venture with Solterra Renewable Energy received approval from authorities for a 111MWp solar photovoltaic project.
Retail sentiment on Stocktwits was mixed in the first half of Wednesday’s trading session.
One user highlighted the battle between bulls and bears, noting that the stock “wants to shoot up.”
However, some others think a fall is in the offing.
N2Off stock price has gained more than 183% in the past six months, but over the past year, it has fallen more than 35%.
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