KOSDAQ-listed Dabollink has seen its stock price fall to the lower limit as it approaches the criteria for being designated as a management item due to its share price being below 1,000 won, commonly referred to as a 'penny stock.'
According to the Korea Exchange, as of 1:40 PM on the 27th, Dabollink's shares were trading at 631 won, down 29.97% (270 won) from the previous trading day.
The sharp decline in stock price is attributed to heightened concerns over the company's potential designation as a management item due to its penny stock status.
On October 20, the Korea Exchange announced that Dabollink was at risk of being designated as a management item because its stock price had remained below 1,000 won for 25 consecutive trading days.
Since then, Dabollink's stock closed at 910 won on the 21st, 966 won on the 22nd, 908 won on the 23rd, and 901 won on the 26th, marking 29 consecutive trading days below 1,000 won.
If the closing price remains below 1,000 won today, it will meet the requirement of being below this threshold for 30 consecutive trading days. Consequently, Dabollink could be designated as a management item as early as the 28th.
According to the delisting regulations implemented on July 1 for the KOSDAQ market, a common stock is designated as a management item if its closing price is below 1,000 won for 30 consecutive trading days. If it fails to maintain a price above 1,000 won for 45 out of the following 90 trading days, it will meet the criteria for delisting.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.