According to Benzinga Pro data, ITOC closed the regular session at $0.30, down 1.64%.
Nasdaq notified ITOC on Tuesday that it approved the extension following the expiration of the initial 180-day compliance period on April 20. The new deadline is Oct. 19. Under Nasdaq Listing Rule 5550(a)(2), if the company fails to regain compliance, Nasdaq will issue a formal delisting notice. iTonic has stated that in that situation, it may appeal before a Nasdaq Hearings Panel.
The rally in the extended trading session signals short-term relief, not a compliance fix.
At a regular-session close of $0.30, ITOC’s Class A ordinary shares remain well below Nasdaq’s $1 minimum bid price threshold, which requires stocks to sustain that level for 10 consecutive business days to regain compliance.
Short interest in the stock stands at 5.12%.
iTonic has a market capitalization of $5.19 million, with a 52-week range of $0.25 to $0.92.
The stock has a Relative Strength Index (RSI) of 44.19.
Over the past 12 months, ITOC has dropped 89.81%.
The small-cap stock of the Beijing-based healthcare solutions provider is currently trading close to its annual low.
Price Action: According to Benzinga Pro data, the stock closed the regular session at $0.30, down 1.64%.
Benzinga’s Edge Stock Rankings indicate ITOC stock has a negative price trend across all time frames.
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Source: Markets
