10:37 AM EDT, 08/27/2024 (MT Newswires) -- Chijet Motor ( CJET ) said Tuesday it received two deficiency notification letters from Nasdaq on Aug. 15.

The notices indicate that for the past 30 business days, the market value of the company's listed securities has been below $50 million and for the past 32 business days, the market value of the company's publicly held shares has been below $15 million -- both required by Nasdaq rules.

The company has until Feb. 11, 2025, to meet these requirements and if it fails, the exchange will notify it that its securities may be delisted.

The notices will have no immediate effect on the company's listing or trading on the Nasdaq Global Market, Chijet Motor ( CJET ) said, adding that it is evaluating ways to regain compliance with all the requirements.

Shares of the company fell past 9% in recent trading activity.

Price: 3.21, Change: -0.33, Percent Change: -9.32