Smart Powerr Corp. (NASDAQ:CREG) experienced a 43.87% surge during after-hours trading on Wednesday. The stock price rose to $2.23.
Check out how CREG stock is trading here.
What Happened: The surge in stock value follows Smart Powerr’s recent announcement of regaining compliance with the NASDAQ Capital Market’s minimum bid price requirement. The company’s common stock, valued at $0.001 per share, was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days to meet the requirement. The company was able to meet this requirement from July 18 to July 31.
The China-based waste energy recycling company received the letter from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“Nasdaq”) on August 1.
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According to Benzinga Pro data, Smart Powerr closed at $1.55, after marking a 3.33% gain during the regular trading session. The company’s market capitalization is approximately $3.93 million, with an average daily trading volume of about 551,590 shares, suggesting this company is a small-cap stock characterized by a limited public float.
Why It Matters: The company’s stock value surge reflects investor confidence in Smart Powerr Corp.’s ability to meet regulatory requirements and maintain a strong position in the market. It suggests investors are optimistic about the company’s prospects and are responding positively to this recent development.
Benzinga Edge Stock Rankings indicate that CREG stock has a negative price trend across all time frames. Find out the stock value of payments enablement companies.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
