- The stock price of US Well Services Inc (NASDAQ: USWS) has increased by over 13% pre-market as of 5:56 AM ET today. This is why it happened.
The stock price of US Well Services Inc (NASDAQ: USWS) has increased by over 13% pre-market as of 5:56 AM ET today. Investors are responding to the company announcing its received written notice from the Listing Qualifications Staff of the Nasdaq Stock Market LLC notifying them that it has regained compliance with Nasdaq Listing Rule 5550(b)(2) (the MVLS Requirement).
US Well Services was previously notified by Nasdaq on August 14, 2020 that it was not in compliance with the MVLS Requirement and that it had until February 10, 2021 to regain compliance.
And as previously disclosed, the company was also notified by Nasdaq on December 29, 2020 that it had not regained compliance with the $1 minimum bid price requirement for continued listing on Nasdaq set forth in the Minimum Bid Price Requirement by its December 28, 2020 deadline.
What does US Well Services do? The company is known as a leading provider of hydraulic fracturing services and a market leader in electric fracture stimulation. And the company’s patented electric frac technology provides one of the first fully electric, mobile well stimulation systems powered by locally-supplied natural gas, including field gas sourced directly from the wellhead. The company’s electric frac technology dramatically decreases emissions and sound pollution while generating exceptional operational efficiencies, including significant customer fuel cost savings versus conventional diesel fleets.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.