Cango gets NYSE non-compliance notice over sub-$1 stock price

Cango, a Chinese auto trading service platform that previously acquired BTC miners from Bitmain, announced it has received a notice from the New York Stock Exchange for failing to meet continued listing standards. The action follows the company's average closing share price falling below $1 over the past 30 consecutive trading days. Cango has six months to bring its share price back above $1. Failure to meet this requirement will result in the suspension of trading and the initiation of delisting procedures.