Alpine 4 Holdings on the Brink of NASDAQ Non-Compliance

The NASDAQ-listed conglomerate, Alpine 4 Holdings, Inc. (NASDAQ:ALPP), has recently been served with a staff determination notice by the Nasdaq Stock Market, warning the company about its non-compliance with the minimum bid price requirement of the Nasdaq Capital Market. The company's Class A Common Stock has consistently traded under the $1.00 per share threshold for a period of 30 consecutive business days, thereby violating the Nasdaq Listing Rule 5550(a)(2).

180 Days to Regain Compliance

In line with Nasdaq rules, Alpine 4 now has a 180-day window, closing on June 24, 2024, to rectify this non-compliance. To meet this requirement, the company's stock price needs to hit a minimum of $1.00 for at least ten consecutive business days within this period. If successful, Nasdaq will confirm the company's regained compliance.

Extended Grace Period Possible

Should Alpine 4 fail to meet this requirement within the initial 180-day period, it may be granted an additional equal-length grace period, given it satisfies other initial listing criteria and communicates its remediation plans to Nasdaq. Meanwhile, the company's shares have been heavily short sold, with a volume of 1,760,000 shares, which accounts for 7.30% of the company's total shares. This high short interest ratio of 17.0 suggests a strong market skepticism about the company's stock.

Alpine 4 Holdings, Inc. Profile

Operating across North America, Alpine 4 Holdings, Inc. functions as an industrial conglomerate, dealing in automotive technologies, logistics services, and electronic contract manufacturing services among others. The company, previously known as Alpine 4 Technologies, Ltd., rebranded to its current name in March 2021. The company's stock, which was trading at $0.7350 at the start of the year, has since depreciated by 14.7% to $0.6266. Alpine 4 is slated to announce its next quarterly earnings on Monday, May 13th, 2024.