Plug Power Inc., a developer of energy technology, said Wednesday that Nasdaq has notified the company it has violated a rule that requires its share price not to close at a value of less than $1 for 30 days in a row.
The notice will not immediately affect the company's listing.
The company has 180 days, which is until June 7, 2010, to get back into compliance with the minimum bid price rule. That means the shares must close at $1 or more for at least 10 days in a row for Nasdaq to consider the company back in compliance.
If the company cannot return to compliance by the June deadline, the stock is in danger of being delisted.
The shares closed Wednesday at 73 cents.