Knuckles Nuuk Shares of the strategic acquisition company were higher in after-hours trading Thursday after the strategic acquisition company announced it was back in compliance with Nasdaq listing rules.
What happened: After the close on Thursday, Nukkleus said it received notice on Wednesday that it had successfully regained compliance with Nasdaq listing rules, which require companies to maintain a minimum market value for listed securities and a minimum market value for publicly held shares.
Nukkleus conducted an 8-for-1 reverse stock split on Oct. 24 to regain compliance with the $1 minimum bid price requirement for continued listing on Nasdaq. Each eight shares of the company’s common stock were consolidated and reclassified into one share of common stock, reducing the number of issued and outstanding shares from 16.9 million shares to approximately 2.1 million shares.
Nukkleus announced on Thursday that Nasdaq has canceled a hearing originally scheduled for January 21, confirming that the company’s shares will continue to trade on Nasdaq.
“Company management believes that this milestone underscores its effective resolution of all Nasdaq compliance issues, allowing the company to continue its pursuit of sustainable growth and deliver lasting value to its stakeholders,” Nukkleus said.
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Now you may be curious about how to participate in the Nukkleus market – whether that’s buying shares, or trying to short the company.
Purchasing stocks is usually done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to purchase “fractional shares,” which allows you to own a portion of a stock without purchasing the entire stock.
If you want to short a company, the process is more complicated. You need access to an options trading platform, or a broker that allows you to “short” stocks by lending them. The process for short selling a stock can be found in this resource. Otherwise, if your broker allows you to trade options, you can buy a put or sell a call at a strike price higher than the stock’s current trading price—either way, you can profit from a drop in the stock price .
NUKK Price Trend: Nukkleus shares were up 28.59% in after-hours trading at $26.40 as of Thursday’s publication, according to Benzinga Pro.
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