SEALSQ Corp (NASDAQ:LAES) shares closed Thursday up more than 60%, and the stock isn't slowing down after hours. Shares are up more than 3% in extended trading after the company announced it regained compliance with Nasdaq listing rules.

What Happened: After the market close on Thursday, SEALSQ said it received formal written notice from the Nasdaq confirming that the company regained compliance with the Nasdaq's minimum bid price requirement.

SEALSQ received a letter from the Nasdaq on Aug. 1, stating that the company was not in compliance with the $1 minimum bid price requirement for continued listing on the Nasdaq. The company was required to maintain a minimum bid price of at least $1 for 10 consecutive trading days prior to Jan. 28.

SEALSQ said it was informed that it regained compliance after its shares traded above the $1 level from Dec. 11 to Dec. 24. Shares are responding favorably to the announcement that the matter is now closed. SEALSQ shares are now up more than 2,000% over the past month, per Benzinga Pro.

SEALSQ stock rallied more than 60% during normal trading hours on Thursday after the company announced the launch of SEALQUANTUM.com Lab, designed to support organizations transitioning to quantum-safe encryption.

"As quantum technologies become a reality, the need for quantum-safe encryption solutions grows increasingly urgent," said Carlos Moreira, CEO of SEALSQ.

"Our SEALQUANTUM.com Lab is more than just a platform, it's a commitment to future-proofing our clients' security. By combining cutting-edge research with actionable tools, we're empowering businesses to navigate the complexities of quantum cryptography with confidence."

SEALSQ describes itself as "a company that focuses on developing and selling semiconductors, PKI and post-quantum technology hardware and software products."

LAES Price Action: SEALSQ shares were up 0.23% in after hours, trading at $8.78 at the time of publication Thursday, per Benzinga Pro.

Photo: Shutterstock.