Recon Technology receives NASDAQ compliance notice over bid price

Recon Technology, Ltd (NASDAQ: RCON) received notification from The Nasdaq Stock Market LLC on May 4 that the company does not comply with minimum bid price requirements under Nasdaq Listing Rule 5550(a)(2).

The notification resulted from Recon's ordinary shares closing below $1.00 per share for 30 consecutive business days. The company's shares will continue trading on Nasdaq under the ticker "RCON" without interruption.

Recon has 180 calendar days until November 2, 2026, to regain compliance with the minimum bid price requirement. The company can resolve the deficiency if its closing bid price reaches at least $1.00 per share for a minimum of 10 consecutive business days during this period.

If Recon fails to regain compliance by the November deadline, the company may qualify for an additional 180-day grace period.

Recon Technology is a Beijing-based oil and gas field service company that supplies automated technologies and equipment to China's petroleum exploration companies including Sinopec and China National Petroleum Corporation.

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