Tantech Holdings Ltd (TANH) has reached a new 52-week low, with shares trading at a price of $0.5128. This marks a significant downturn for the company, which has seen its stock price steadily decline over the past year. The 52-week low data underscores the challenges Tantech has faced in a volatile market environment. Over the course of the past year, Tantech's shares have experienced a drastic decrease, with the 1-year change data showing a decline of -79.97%. This substantial drop in value highlights the difficulties the company has encountered and the uncertainty surrounding its future performance.
In other recent news, Tantech Holdings Ltd, a producer of bamboo charcoal products and electric vehicles, has encountered a regulatory hiccup with Nasdaq. The company received a non-compliance notice due to a delay in filing its annual report for the year ending December 31, 2023. Nasdaq's notice, dated May 20, 2024, pointed out the company's failure to meet the timely submission requirement as stipulated by Nasdaq Listing Rule 5250(c)(1).
However, this notice does not immediately impact the trading of Tantech's common shares on the Nasdaq market. The company has been granted a 60-day period to present a plan to regain compliance. If the plan is accepted, Tantech could receive an extension of up to 180 calendar days from the original due date of the Form 20-F, extending the deadline to November 11, 2024.
These developments come as the company continues to diversify its operations, which include the manufacturing and sale of vehicles through its majority stake in Shangchi Automobile and its subsidiaries focused on producing and selling street sweepers and other electric vehicles.
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