Crypto service provider SOS Limited received a non-compliance notice from the New York Stock Exchange and faces the risk of delisting

BlockBeats news, on August 22, Cointelegraph reported that SOS Limited, a blockchain-based service solution provider, received a non-compliance notice letter from the New York Stock Exchange (NYSE) due to poor stock price performance. The trading price of its American Depositary Shares (ADSs) fell below $1 for 30 consecutive trading days.

According to legal requirements, SOS must restore its stock price and average stock price to more than $1 within six months, otherwise it will face the risk of suspension of trading and delisting by the NYSE.

SOS stated in a statement: "The company can re-qualify at any time during the six-month rectification period. If the company's closing price on the last trading day of any calendar month during the rectification period reaches at least $1, and the average closing price within 30 trading days ending on the last trading day of that month reaches at least $1, the company will be able to regain compliance."