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The culture and entertainment publisher BuzzFeed Inc. has been granted an additional 180 days to raise the price of its stock above $1, according to SEC filings.
The publicly traded media company had originally received a notice of delisting from the Nasdaq on May 31 warning the publisher that it had 180 days, ending on Nov. 27, to get its stock above the $1 threshold.
Companies have to meet a number of criteria in order to trade on the Nasdaq, one of which is that their bid price must be above a $1 minimum.