Shift Announces Regaining Compliance with Nasdaq Listing Requirement
28 Marzo 2023 - 2:05PM
Shift (Nasdaq: SFT), a leading end-to-end auto ecommerce platform
transforming the used car industry with a technology-driven,
hassle-free customer experience, announced today that on March 22,
2023, the Company received formal notice from the Listing
Qualifications Department of The Nasdaq Stock Market (“Nasdaq”)
indicating that Shift has evidenced compliance with the minimum bid
price requirement set forth in Nasdaq Listing Rule5550(a)(2). The
notice indicated that as a result of the closing bid price of the
Company’s common stock having been at least $1.00 per share for a
minimum of 10 consecutive business days, the Company has regained
compliance with Nasdaq Listing Rule 5550(a)(2) and advised that
this matter is now closed.
About Shift
Shift is a consumer-centric omnichannel retailer transforming
the used car industry by leveraging its end-to-end ecommerce
platform and retail locations to provide a technology-driven,
hassle-free customer experience. Shift’s mission is to make car
purchase and ownership simple — to make buying or selling a used
car fun, fair, and accessible to everyone. Shift provides
comprehensive, digital solutions throughout the car ownership
lifecycle, enabling customers to purchase a vehicle online with
financing and vehicle protection products, and a vision to provide
high-value support services during car ownership. For more
information please visit www.shift.com.
Forward-Looking Statements
This document includes “forward looking statements” within the
meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,”
“expect,” “estimate,” “plan,” “outlook,” and “project” and other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. Such
forward looking statements include estimated financial information.
Such forward looking statements with respect to revenues, earnings,
performance, strategies, prospects and other aspects of Shift’s
business are based on current expectations that are subject to
risks and uncertainties. A number of factors could cause actual
results or outcomes to differ materially from those indicated by
such forward looking statements. These factors include, but are not
limited to: (1) Shift’s ability to sustain its current growth,
which may be affected by, among other things, competition, Shift’s
ability to grow and manage growth profitably, maintain
relationships with customers and suppliers and retain its
management and key employees; (2) changes in applicable laws or
regulations; (3) the possibility that Shift may be adversely
affected by other economic, business, and/or competitive factors;
(4) the operational and financial outlook of Shift; (5) the ability
for Shift to execute its growth strategy; (6) Shift’s ability to
purchase sufficient quantities of vehicles at attractive prices;
(7) legislative, regulatory and economic developments and (8) other
risks and uncertainties indicated from time to time in other
documents filed or to be filed with the SEC by Shift. You are
cautioned not to place undue reliance upon any forward-looking
statements, which speak only as of the date made. Shift undertakes
no commitment to update or revise the forward-looking statements,
whether as a result of new information, future events or otherwise,
except as may be required by law.
Investor Relations:Susan LewisIR@shift.com
Media Contact:press@shift.com
Source: Shift Technologies, Inc.
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