TRON Inc. stock has continued to decline and is now hovering minimally above the $1 threshold required to stay listed on the Nasdaq exchange. The shares are currently trading only 15 cents above the $1 mark.
Under Nasdaq rules, if a stock closes below $1 for 30 consecutive trading days, it enters a 180-day compliance period and becomes eligible for delisting.
TRON Inc. operates primarily as a treasury company that buys, holds, and stakes the TRON cryptocurrency, alongside purchasing old intellectual property and selling children’s toys and accessories. The company currently holds just over $250 million worth of TRX according to its publicly listed wallet address, while its market capitalization stands at over $500 million, valuing the company at nearly two times its assets.
Despite shares falling 50% from their highs earlier this year, immediate delisting is not guaranteed. The company could execute a reverse stock split to temporarily keep the price above one dollar, and its market capitalization and financials are not currently near triggering other delisting protocols.
Additionally, the company recently entered into an agreement with Clear Street to act as a broker to sell shares of TRON to its clients, though it remains unclear whether this will impact the struggling stock.
