04:49 AM EST, 12/04/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

CN Energy Group ( CNEY ) shares surged 120% pre-bell Wednesday after the company said late Tuesday it has been notified of its eligibility for a 180-day extension to regain compliance with Nasdaq's $1 per share minimum bid price requirement.

The company said the determination was based on meeting minimum listing requirements for market value and a written notice to Nasdaq of its plan to possibly implement a reverse stock split.