Israeli ad solutions developer for brands and publishers Perion Network Ltd. (Nasdaq:PERI: TASE:PERI) has received a warning letter from NASDAQ indicating that the company is not in compliance with the minimum bid price requirement for continued listing. The warning letter comes after the company's share price fell below $1 several weeks ago and has fallen 95% since its peak in 2013.
In trading today, Perion's share price is down 2.5% at $0.78, giving a market cap of $60.5 million.
In an interview with "Globes" last month, Perion CEO Doron Gerstel said, "Shareholders didn't like what the previous CEO did. They wanted value, and the question is how much patience and understanding that things don't happen overnight they'll have. If it doesn't affect the share price, I won't have succeeded - period. I don't look at the share every day, but some investors say, 'I believed what you said, I entered the share at price x, and I'm underwater,' so you can't ignore it. If we don’t provide value for the shareholders, we won't be here. We're trying to build trust, and are acting according to a very clear operating plan."
Published by Globes [online], Israel business news - www.globes-online.com - on April 2, 2018
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