Dot Hill cleared by Nasdaq after holding above $1
Dot Hill Systems Corp. is in full compliance with Nasdaq listing standards and can continue to trade without interruption, the company said Monday.
Dot Hill, a data storage company based in Longmont, Colo., said it was notified by Nasdaq that it no longer faces delisting from the exchange because its share price has held above $1 for 10 straight trading days.
Under Nasdaq rules, if a company closes below $1 for 30 straight trading days, it is sent a "deficiency notice" and has 180 days to boost its price above $1.
Dot Hill closed at 98 cents on Oct. 19 and remained below $1 until Jan. 4. It has closed above $1 every day since Jan. 9.
The most recent Nasdaq notification means "the matter is now closed," Dot Hill said.
Dot Hill provides software and hardware data storage products through partnerships with equipment manufacturers, distributors and resellers.
It fell 8 cents to $1.23 on Friday.