Snail, Inc., an independent digital entertainment developer and publisher known as Snail Games, has announced it has regained compliance with Nasdaq's minimum bid price requirement. The company received official notification from the Nasdaq Stock Market LLC's Listing Qualifications Department, confirming it now complies with Listing Rule 5550(a)(2).
To meet Nasdaq's requirements, a company's stock must maintain a minimum closing bid price of $1.00 per share for at least ten consecutive trading days. Snail Games accomplished this, as the closing price of its Class A common stock remained at or above $1.00 from October 4 to October 17, 2024.
The Nasdaq notification ends the compliance issue, affirming Snail Games' adherence to the minimum bid price rule, allowing it to continue its listing on the Nasdaq Capital Market.
