Top Ships shares are too cheap for Nasdaq's liking.
The Greek shipowner disclosed after trading Tuesday that it had received notice that it is out of compliance with the exchange's $1 minimum share price rule.
Top Ships shares closed at $1 on 24 January and haven't peeked above that mark since.
Tuesday, shares closed at $0.90.
During that period, shares had closed as low as $0.78 on 8 February.
Top Ships said they have until 9 September to rectify the situation and were "considering its options" including a reverse stock split. The company can regain compliance if its shares close above the $1 threshold for 10 consecutive business days.
