Lottery.com (NASDAQ: LTRY) Shares Rocket after Company Regains NASDAQ Compliance
As another trading week begins, investors are expected to be looking into stocks like that of Lottery.com (NASDAQ: LTRY), which ended up with gains of 20% on Friday. The company was in sharp focus after it announced that it had received a notice from the NASDAQ Capital Market LLC, which stated that the Lottery.com stock had regained compliance.
The Highlights
The company announced in the news release that in the notice that since the closing bid price of its stock had been $1 or more for 20 straight business days, Lottery.com had successfully regained compliance with the NASDAQ rules. However, more importantly, it should be noted that the company managed to stabilize its stock price and regain compliance without going through a reverse stock split.
Further Information
In addition to that, the company also regained compliance because the valuation of the publicly held shares went above the $5000000 mark over the course of the same 20 business days under consideration. Lottery.com also stated that regaining compliance with the listing rules of the exchange was a major new breakthrough for the company. It also completed the compliance and regulations-related stage of the turnaround plan.
Matthew McGahan, Chairman and CEO of Lottery.com, commented:
“Regaining full compliance with Nasdaq’s continued listing requirements is a significant breakthrough for the company. As such, we are delighted to officially announce that the regulatory and compliance phase of the turnaround is complete. We now look forward to deploying fresh capital into the company to resume operations in all respects, completing the previously announced acquisitions, and implementing the buy-and-build vision that this team has worked so hard for over the last two years. We look forward to making more exciting announcements in the very short term.”
Technicals
| +/- EMA(20) | 1.2 (-10.42%) |
| +/- SMA(50) | 0.85 (+26.47%) |
| +/- SMA(200) | 0.83 (+29.52%) |
| 5-Day Perf. | -15.35% |
| 1-Month Perf. | -13.31% |
| 3-Month Perf. | +229.05% |
| 6-Month Perf. | +41.43% |
| YTD Perf. | +122.11% |
| 1-Year Perf. | -57% |
| RSI(14) | 48.66 |
| ATR(14) | 0.27 |
| ADX(14) | 38.98 |
| Beta (5Y) | 0.45 |