May. 8 at 3:35 PM
$TRNR This will be interesting to see.
Company claims huge improvements within next 12 month, if true, a MC below 2M would not be justified.
They also announced authorization of stock repurchase program.
And if I read the new Nasdaq rules correctly, RS is not an option given the history of RS. And if below 1 for 30 days, likely delisting by default (no 180 grace period). But company has highlighted that they really really want to remain on Nasdaq.
So that only leaves one option: they actually have to execute on the re-purchase program unless good news brings the price >1 on its own.
There seems to be a lot of shorting happening here, not sure if all covered.
It all comes down on how much the company wants to stay on NASDAQ. Usually, that is a high priority as it has real long-term impact.
Will be intersting to see what happens here.
