WeBuy Global Ltd, an emerging community e-commerce retailer specializing in grocery and travel in Southeast Asia, has received a notification from Nasdaq on January 26, 2024, regarding its non-compliance with the minimum bid price requirement. The company's shares have failed to maintain the minimum bid price of $1.00 for 30 consecutive business days, as stipulated by Nasdaq Listing Rule 5550(a)(2). Despite this, the notification does not immediately affect the listing of WeBuy's shares. The company has been granted a 180-day period, until July 24, 2024, to regain compliance with the minimum bid price rule. Compliance can be achieved if WeBuy's share price closes at or above $1.00 for at least ten consecutive business days within this timeframe. If WeBuy fails to comply...Show More

WeBuy Global Ltd, an emerging community e-commerce retailer specializing in grocery and travel in Southeast Asia, has received a notification from Nasdaq on January 26, 2024, regarding its non-compliance with the minimum bid price requirement. The company's shares have failed to maintain the minimum bid price of $1.00 for 30 consecutive business days, as stipulated by Nasdaq Listing Rule 5550(a)(2). Despite this, the notification does not immediately affect the listing of WeBuy's shares. The company has been granted a 180-day period, until July 24, 2024, to regain compliance with the minimum bid price rule. Compliance can be achieved if WeBuy's share price closes at or above $1.00 for at least ten consecutive business days within this timeframe. If WeBuy fails to comply within the initial period, it may be eligible for an additional 180 days to meet the requirements, provided it meets other listing standards and may consider a reverse stock split if necessary. CEO Vincent Xue Bin expressed confidence in the company's financial strength and upcoming events that could enhance shareholder value, anticipating that these factors will help the company meet Nasdaq's requirements. WeBuy's business model focuses on a community-centric approach and a 'group buy' strategy to offer cost savings and a simplified supply chain.