Latest news with #NasdaqGlobalSelectMarket
Business Times
4 days ago
- Business
- Business Times
Chinese hotel chain Atour is said to seek second listing in Hong Kong
[HONG KONG] Hotel chain Atour Lifestyle Holdings is considering a second float in Hong Kong, according to sources familiar with the matter, the latest US-listed Chinese firm to weigh such a move amid concern about delisting risks in America. The Shanghai-based chain is working with advisers on a share sale to potentially raise several hundred million US dollars, the sources said, asking not to be named because the information is not public. Deliberations are ongoing and details such as the size of the deal have not been decided, the sources added. Atour did not respond to a request for comment. Established in 2013, Atour has a network that includes about 1,600 hotels in more than 200 Chinese cities. The company, which generated US$993 million in net revenue last year, went public in late 2022 on the Nasdaq Global Select Market. Its American depositary receipts have more than tripled since, valuing the company at about US$4.8 billion. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up A 2020 US law empowered the Securities and Exchange Commission to order the delisting of Chinese firms if the regulator was unable to inspect their audits for two consecutive years. The legislation was passed after the accounting practices of US-listed companies headquartered in mainland China and Hong Kong became a flash point during the first Trump presidency. The concerns were considered resolved in 2022 after US officials said that they'd gained sufficient access to review audit documents. But the delisting threat has resurfaced since US President Donald Trump's return to the White House this year, with his administration seeking to determine if Chinese firms are meeting auditing standards covered by the Holding Foreign Companies Accountable Act. Atour would join lidar maker Hesai Group and autonomous-driving firm Pony AI in seeking additional listings in Hong Kong, a trend that's giving an extra boost to the city's now sizzling market. An even bigger candidate could be waiting in the wings. Temu parent PDD Holdings has switched to a Hong Kong-based auditor, which some analysts suggest could indicate that the Chinese e-commerce firm may be preparing to apply for a second listing too. BLOOMBERG
Business Insider
5 days ago
- Business
- Business Insider
Why Is Opendoor Stock (OPEN) Skyrocketing Ahead of Q2 Earnings?
Opendoor Technologies (OPEN) shares jumped nearly 15% in pre-market trading on Monday, adding to Friday's 14% rally. The gains followed the company's announcement that it's once again in compliance with Nasdaq's minimum bid price rule, securing its spot on the Nasdaq Global Select Market. Meanwhile, the company is also gearing up to announce its second-quarter earnings on August 5. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Overall, OPEN stock has benefited amid a meme‑stock-style rally driven by speculation and momentum. Despite the recent rally, Opendoor's core fundamentals remain weak. The company continues to burn through cash, operates on thin margins, and faces limited near-term growth prospects. As of now, attention remains on its results and whether this price action continues or turns into just another short-lived hype cycle. What's Happening with OPEN Stock? Last week, Opendoor received a formal notice from Nasdaq confirming that it had met the exchange's listing requirements by keeping its stock price at or above $1.00 for 12 straight trading days between July 15 and July 30, 2025. As a result, the company's Board of Directors has called off the Special Meeting of Stockholders originally set for August 27, 2025. That meeting was intended to vote on a possible reverse stock split, which is now unnecessary given the stock's regained compliance. Meanwhile, shares of Opendoor tumbled after the company announced a delay in its special shareholder meeting regarding the proposed reverse stock split. Despite that dip, OPEN stock has skyrocketed more than 200% over the past month, fueled by a July 14 post on X from EMJ Capital's Eric Jackson, who expressed a highly optimistic view on the company and projected a bold long-term price target of $82 per share. Is OPEN a Good Stock to Buy? Turning to Wall Street, analysts have a Hold consensus rating on OPEN stock based on one Buy, three Holds, and one Sell assigned in the past three months. Furthermore, the average OPEN price target of $0.83 per share implies 60% downside risk.
Business Wire
5 days ago
- Business
- Business Wire
U.S. News & World Report Names Cintas One of the Best Companies to Work For 2025-2026
CINCINNATI--(BUSINESS WIRE)-- Cintas Corporation (Nasdaq: CTAS) has been recognized by U.S. News & World Report as one of the best companies to work for in 2025-2026. This award demonstrates Cintas' strong commitment to creating a workplace culture where employee-partners feel supported and are given opportunities to thrive. 'At Cintas, we believe that our employee-partners are our greatest strength,' said Todd Schneider, Cintas President and CEO. 'This award recognizes their dedication to our culture, where employee-partners feel valued and empowered. We are always proud to receive these awards and be recognized as a great place to work.' To create this list, U.S. News evaluated the largest 5,000 publicly traded companies as of January 2025. The rankings are derived from an independent analysis of employee sentiment combined with publicly available data. The key factors evaluated included: Quality of pay and benefits Work-life balance and flexibility Job and company stability Physical and psychological comfort Belongingness and esteem Career opportunities and professional development Cintas was also recognized in one of the major categories, including Best Workplaces in the Midwest. About Cintas Corporation Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers' facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor's 500 Index and Nasdaq-100 Index.
Associated Press
01-08-2025
- Business
- Associated Press
Opendoor Regains Compliance with Nasdaq Minimum Bid Price Requirement and Cancels Special Meeting of Stockholders
SAN FRANCISCO, Aug. 01, 2025 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. ('Opendoor' or the 'Company') (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today announced it received written notice from the Nasdaq Stock Market LLC that the Company has regained compliance with Nasdaq's minimum bid price requirement. Opendoor's common stock will continue to be listed on the Nasdaq Global Select Market. To regain compliance with the minimum bid price requirement, the Company's shares were required to maintain a closing bid price of $1.00 or more for at least 10 consecutive business days. Nasdaq's notice confirmed that Opendoor maintained a closing bid price of at least $1.00 for 12 consecutive business days from July 15, 2025 to July 30, 2025, thereby regaining compliance with the minimum bid price requirement. Accordingly, Nasdaq has determined that the matter is now closed. The Board of Directors of the Company has decided to cancel the Special Meeting of Stockholders, scheduled for August 27, 2025, which was intended to consider two proposals related to a discretionary reverse stock split of the Company's common stock. In light of Opendoor regaining compliance with the minimum bid price requirement, the Board has determined that it is in the best interests of the Company and its stockholders to not proceed with the reverse stock split proposal at this time and to cancel the Special Meeting. About Opendoor Opendoor is a leading e-commerce platform for residential real estate transactions whose mission is to power life's progress, one move at a time. Since 2014, Opendoor has provided people across the U.S. with a simple and certain way to sell and buy a home. Opendoor is a team of problem solvers, innovators, and operators who are leading the future of real estate. Opendoor currently operates in markets nationwide. For more information, please visit Forward Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding the Company's ability to comply with the continued listing requirements for the Nasdaq Global Select Market. These forward-looking statements generally are identified by the words 'anticipate', 'believe', 'contemplate', 'continue', 'could', 'estimate', 'expect', 'forecast', 'future', 'guidance', 'intend', 'may', 'might', 'opportunity', 'outlook', 'plan', 'possible', 'potential', 'predict', 'project', 'should', 'strategy', 'strive', 'target', 'vision', 'will', or 'would', any negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. The factors that could cause or contribute to actual future events to differ materially from the forward-looking statements in this press release include but are not limited to: the Company's ability to continue to comply with the continued listing requirements of the Nasdaq Global Select Market; risks associated with the Company's indebtedness and capital structure; the current and future health and stability of the economy, financial conditions and residential housing market, including any extended downturns or slowdowns; changes in general economic and financial conditions (including federal monetary policy, the imposition of tariffs and price or exchange controls, interest rates, inflation, actual or anticipated recession, home price fluctuations, and housing inventory), as well as the probability of such changes occurring, that impact demand for the Company's products and services, lower the Company's profitability or reduce its access to future financings; actual or anticipated fluctuations in the Company's financial condition and results of operations; the Company's ability to access sources of capital, including debt financing and securitization funding to finance its real estate inventories and other sources of capital to finance operations and growth; and the volatility in the price of the Company's common stock. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption 'Risk Factors' in the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the 'SEC') on February 27, 2025, as updated by its periodic reports and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations. Contacts Investors: [email protected] Media: [email protected]
Yahoo
30-07-2025
- Business
- Yahoo
Michael Saylor buys the biggest dip ever
Michael Saylor buys the biggest dip ever originally appeared on TheStreet. Michael Saylor's Strategy (Nasdaq: MSTR), formerly MicroStrategy, has acquired 21,021 Bitcoin for $2.46 billion at an average price of $117,256 per coin, the company said on July 29. Strategy announced the closing of its initial public offering of Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) shares at a public offering price of $90 apiece. STRC is expected to begin trading on the Nasdaq Global Select Market on or around July 30. The firm said it used the net proceeds from the offering, worth approximately $2.47 billion, for its latest batch of Bitcoin acquisitions. The company, which began adding BTC to its corporate balance sheet in 2020, is already the world's largest publicly traded corporate holder of Bitcoin. The company's Bitcoin stack of 628,791 coins is currently valued at $74 billion, given that the king coin is trading at $117,725.61 at the time of which hit an all-time high (ATH) of $123,091.61 on July 14, has been struggling to climb back to the highs for the last fortnight. The cryptocurrency has been struggling within the $117,000-$119,000 price range since July 21, the day Strategy announced the launch of STRC stock to select investors. Saylor, the orange-pilled executive chairman and co-founder of Strategy, is one of the strongest Bitcoin advocates who has predicted that the cryptocurrency will hit the price of $13 million by 2045. The company's flagship MSTR stock closed at $394.66 on July 29, a decline of 2.26% in a day. Michael Saylor buys the biggest dip ever first appeared on TheStreet on Jul 29, 2025 This story was originally reported by TheStreet on Jul 29, 2025, where it first appeared.
