After the closing bell, the spotlight turned to Nuburu, Inc. (BURU) as it demonstrated a notable performance in the after-hours market. The company’s shares saw a considerable rise, finishing off at $0.19 — a gain of 2.925%. This positive movement was supported by a substantial volume of 16.5 million shares being traded, indicating strong investor engagement. Renowned for its vigorous activity within its sector, Nuburu has positioned itself at the center of attention in after-hours trading, prompting market experts and investors to watch its progress closely.
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Recent Activity
On January 4, 2024, NUBURU, Inc., disclosed an official notice from NYSE American LLC dated December 28, 2023. This communication highlighted a concern regarding NUBURU’s adherence to the NYSE American’s listing criteria. The notice pinpointed the issue that NUBURU’s stock has been trading at a low per-share value for an extended timeframe. The NYSE American’s guidelines stipulate that for NUBURU to maintain its listing, it must demonstrate a consistent increase in stock value by the deadline of June 28, 2024.
In response to this situation, NUBURU has communicated its plan to closely monitor its stock’s market performance and to evaluate all strategic options to bolster its stock price. Among the considerations is the possibility of executing a reverse stock split, should the stock’s price not stabilize at levels that would ensure the company meets the compliance standards within the set timeframe. Receiving this notice does not have any immediate impact on NUBURU’s business operations or its regulatory filings with the Securities and Exchange Commission.
On December 19, 2023, the innovative industrial technology company NUBURU, Inc. shared the news of securing a new business deal, marked by a significant purchase order for its BlueScan system. This cutting-edge solution, comprised of the BL-250 laser along with its scanning and optical components, is destined for a prominent global entity specializing in the assembly and winding systems for electric motors. The delivered technology will be a pivotal addition to the customer’s research and development facilities, where it will play a critical role in refining the production process of automotive solenoids.
