E-Home Household Service Holdings Ltd. (EJH), a household service company, has surged 7.44% in the premarket trading session. Consequently, the stock was trading at $0.69 when last checked. During Friday’s regular trading session, the stock slid by 13.34% to close the day at $0.64. The stock slumped during Friday’s regular trading session owing to the receipt of notice from NASDAQ.
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Receipt of Non-Compliance Notice
On Thursday, EJH announced the receipt of a notice from NASDAQ. It notified the company regarding the non-compliance with the minimum bid price requirement. The notice said that the listing of ordinary shares of the company on NASDAQ won’t get affected. The company does not meet the minimum bid price requirement based on its ordinary shares closing bid price for 30 consecutive days from 19th of January to 2nd of March 2022.
Authorization for Share Repurchase Program
On the 4th of March, EJH announced that its Board of Directors had authorized the share repurchase program. Under the program, the company could repurchase $8 million of outstanding shares in the open market during the next 9 months. The repurchase would be carried out per all of the applicable securities laws. Numerous factors, like market conditions, assessments of the Company’s capital needs, etc. would impact the share repurchase decision.
EJH to Launch Digital Human Service
On the 3rd of March, EJH reported leveraging the cutting edge AI technology for the launch of Digital Human Service. It would be launched on the 18th of March 2022. The service provides 24/7 assistance to housekeeping customers in the Metaverse virtual world. All of the services under the domain of subject would be realized via the in-house research of the company and AI technology which has been developed via collaborating with numerous partners.
What’s Ahead for EJH?
Looking ahead, analysts are of the view that at the moment, EJH stock holds several negative signals. Alongside that, it is lying in a wide falling trend. Based on that, EJH is expected to perform poorly in the next couple of weeks.