Taronis Technologies TRNX Stock News

Taronis Technologies Inc (NASDAQ: TRNX) is running for the top in the market this morning, following up on the strong gains that the stock saw Friday. The gains come after the NASDAQ provided temporary relief from regulatory compliance in the face of COVID-19, just after the company said that it would not move forward with a reverse stock split. Here’s what’s going on:

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

TRNX Stock Heads Up On NASDAQ Compliance News

Late last week, Taronis Technologies said that it would not be pursuing a reverse stock split in attempt to regain compliance with the NASDAQ. The stock has been out of compliance for months after its bid price fell below $1.00 per share for a period of 30 consecutive days.

Nonetheless, investors are excited after the NASDAQ granted temporary regulatory relief. In fact, TRNX said that the relief is related to the minimum listing bid price requirements and the market value of publicly held shares.

In the release, the company said that the relief provided by NASDAQ with regard to compliance is directly related to the COVID-19 pandemic and will be provided to all listed companies.

TRNX said that the regulatory relief will last at least until June 30, 2020. As such, the company now has until this date to bring its bid price up above $1.00 per share.

At the moment, the company said that it is exploring a range of strategic investments, transactions and commercial relationships that it believes will help it to regain compliance before the June 30, 2020 deadline.

Why Investors Are So Excited

There’s good reason for the excitement here. First and foremost, the NASDAQ listing provides access to capital that simply isn’t available to companies listed on the OTC. However, the excitement goes beyond this.

In the release, Taronis Technologies said that it is exploring strategic options in order to bring its bid price over $1.00 per share. We know that, at least for the time being, TRNX isn’t going to move forward with a reverse split.

However, there are other things that the company can do. In particular, I’m looking forward to potential mergers and acquisitions. Ultimately, transactions like these must be on the table in this case, and if one does take place, it could drive tremendous value for investors.

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

Don’t Miss The Next Big Story

Join our free mailing list below to receive real-time news alerts!

Subscribe Today!

* indicates required


LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.