10:53 AM EST, 11/27/2024 (MT Newswires) -- Smith Micro Software ( SMSI ) said Wednesday it is not in compliance with the Nasdaq Stock Market's minimum bid price requirement for continued listing.

The company received the notice because the closing bid price of its common stock had been below the $1.00 minimum bid price requirement for the past 30 consecutive business days.

Smith Micro has an initial period until May 26 to regain compliance by demonstrating that the closing bid price of its common stock is at least $1 per share for a minimum of 10 consecutive business days, according to a filing with the US Securities and Exchange Commission.

The shares of Smith Micro Software ( SMSI ) were down 2% in recent trading.

Price: 0.81, Change: -0.02, Percent Change: -1.97