NWGL Shares Spike Pre-Holiday; Nasdaq Deadline Still Pressures CL Workshop
CL Workshop Group Limited’s U.S.-listed shares climbed Friday, but the advance wasn’t enough to get the Macau timber and wood-products company back above the Nasdaq’s $1 minimum. The ADSs ended the session at $0.8627, up 3.94%. Volume was about 15,600 shares. The stock is still below the threshold as a long U.S. market weekend begins. Matter now is that CL Workshop said this month that Nasdaq told the company its ADSs were under $1.00 for 30 consecutive business days, from March 24 through May 5. That means the stock is not in line with the exchange’s minimum bid rule.