Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.
The stock price of Cyren Ltd (NASDAQ: CRYN) soared over 30% in pre-market trading – Investors are reacting well to the 180-day compliance extension granted by the Listing Qualification Department of The NASDAQ Capital Market.
Over the past few years, Cyren’s stock has been depreciating. The internet security technology company has been in a bearish grip for some time, with share prices decreasing exponentially. Today, investors have jumped on board with the threatened stock, thanks to a successful request for a 180-day extension to meet Nasdaq’s minimum bid price requirement.
From today, the company has until April 4, 2022, to meet the minimum ordinary share price of $1.00, for 10 consecutive trading days. If so, Cyren will regain complete compliance and will continue trading as normal.
Although the market reacted positively to the news, it’s still very much uncertain whether Cyren will have the long-term momentum to reverse such a strong trend, with the current premarket price around $0.61, they have a fair amount of ground to cover. With this in mind, Cyren might be on the track to a reverse stock split if things don’t go their way in the next 180 days.
So, in summary, whilst a 30% gain may be somewhat reassuring – Cyren’s stock price hasn’t hit above the $1 mark since mid-February. It’s impossible to say what is round the corner for Cyren, but it needs to be impressive to avoid delisting.
One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It's a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .