Auddia, a technology company focused on audio solutions, recently announced that it received a written notice from Nasdaq staff on October 24th, indicating that it had not regained compliance with the exchange's bid price requirement. Unless an appeal is filed, Nasdaq is prepared to delist Auddia's stock.
To address this issue, Auddia intends to file an appeal and work towards complying with the bid price requirement. During the appeal process, trading of the company's stock will remain unaffected.
This announcement comes after Auddia was notified in April that it was not in compliance with Nasdaq's minimum bid price requirement of $1. The company was given 180 days to rectify the situation, with the deadline set for October 23rd.
As a result of these developments, Auddia's shares saw a decline of 3.2% during Monday's regular session, closing at 21 cents. It has not traded above $1 since June 12th, when it reached $1.22 per share.
Among Auddia's key products is the faidr Superapp, which offers ad-free AI-enabled AM/FM and other content.
