GIG HARBOR, Wash. - IP Strategy Holdings Inc. (NASDAQ:IPST) announced Wednesday that it has regained compliance with Nasdaq's continued listing standards, according to a notification letter from the exchange dated May 11.
The Nasdaq Hearing Panel determined the company now meets the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The company will be subject to a Mandatory Panel Monitor for one year.
The compliance comes after a turbulent period, with the stock declining 98% over the past year and currently trading at $5.80. Bond.az analysis suggests the stock may be undervalued at current levels.
IP Strategy Holdings describes itself as a Nasdaq-listed company holding $IP tokens as a primary reserve asset and operating a validator for the Story Blockchain. It provides exposure to the programmable intellectual property economy.
In related news, the company launched Confidential Data Rails on testnet and announced a 1-for-20 reverse stock split.
