Revolution Lighting (RVLT) Stock Gains In Multiples On Nasdaq News

Revolution Lighting RVLT Stock News

Revolution Lighting Technologies Inc (NASDAQ: RVLT) is rocketing in the market this morning, trading on early gains of more than 232%. The gains come after an early morning press release announcing that the company has received an extension from the Nasdaq. Here’s the scoop:

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RVLT Stock Soars On Nasdaq Extension

Revolution Lighting Technologies issued a press release in the premarket hours this morning. In the release, the company said that it received an extension letter from the Nasdaq.

According to the letter, received on July 9, 2019, the Nasdaq Hearings Panel has granted a request made by RVLT to continue listing on The Nasdaq Capital Market. The request has been granted but is subject to the company providing written periodic updates.

In these updates, the company will be required to inform the Nasdaq of the status of the company’s audit and remediation process. The extension is also contingent upon the company becoming current with its SEC filings before October 29, 2019.

The company also received a letter on July 3, 2019, informing it that it has not regained compliance with the $1.00 minimum bid price requirement within its 180 day grace period. Nonetheless, the extension letter will stay any action on this letter unless the Hearings Panel decides to change the terms.

Why This News Is Exciting Investors

At first glance, you may view the news released today as negative. After all, RVLT stock continues to trade under $1 per share. Moreover, the company’s SEC filings are not current, and have not been for some time. Nonetheless, today’s news is indeed positive.

First and foremost, investors now have a date that they can expect to see regulatory filings by, and that date is just a few months away. So, for RVLT to become current, it will be updating investors relatively soon.

Moreover, the extension gives the company more time to remedy the $1 minimum bid price requirement issue and provides it continued access to investors through the Nasdaq.

Be Prepared For The Dip

While the news released today was positive, it in no way justifies a run of more than 230%. It seems as though the news today has triggered a short squeeze. While this is great for single, and sometimes, multi-day gains, this price isn’t likely to last forever. So, beware of the risks if you decide to get involved.

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