02:22 PM EDT, 09/30/2024 (MT Newswires) -- SOBR Safe ( SOBR ) said Monday its board approved a 1-for-110 reverse stock split, which, it expects, will take effect Wednesday to help the company regain compliance with Nasdaq's minimum bid price rule for continued listing.

Shares slumped 29%, with intraday trading volume at over 8.3 million compared with a daily average of about 1.2 million.

Ensysce Biosciences ( ENSC ) said it received a notice from the Nasdaq Stock Market saying the company has failed to regain compliance because the bid price for its common stock has remained below $1.00 per share through the initial 180-day compliance period ended Sept. 23.

The company said it is not eligible for a second 180-day period due to non-compliance with the stockholders' equity requirement. The Nasdaq hearings panel will consider this matter in "rendering a determination regarding the company's continued listing."

Shares fell 18% as intraday trading volume climbed to more than 625,000 versus a daily average of roughly 1.8 million.

EchoStar ( SATS ) agreed to sell its video distribution business, which includes Dish TV and Sling TV, to satellite television provider DirecTV in a debt-exchange transaction, the companies said Monday.

Shares of EchoStar ( SATS ) slid 12% as intraday trading volume soared to over 5.1 million versus the stock's daily average of around 1.3 million.

Price: 0.06, Change: -0.02, Percent Change: -29.27