X3 Holdings Co., Ltd. (NASDAQ: XTKG) received a Nasdaq determination letter on February 10, 2026, stating that its shares had closed below $1 for 32 consecutive business days, a violation of Listing Rule 5550(a)(2). The company announced receipt of the letter on February 13, 2026, and Nasdaq has scheduled a suspension of trading for February 19, 2026, unless the company appeals by February 17.
The company’s one‑for‑six reverse stock split, executed on December 30, 2025, disqualified X3 from the standard 180‑day cure period normally granted for such violations. X3 had previously regained compliance on April 16, 2025, after a prior 30‑day bid‑price deficiency, but the recent split has reset the clock and removed the opportunity to correct the shortfall before the suspension date.
Financially, X3 reported 2024 revenue of $11.61 million, down 30.99% from $16.82 million in 2023, and a net loss of $76.24 million, a 30.44% improvement from the previous year’s loss. The company operates across digital technologies, cryptomining, renewable energy, and agriculture technologies, yet its overall financial health is rated weak, with a price‑to‑book ratio of 0.12 and a short‑interest ratio of 0.01. Approximately 37.56% of the float is sold short, underscoring investor skepticism.
X3 has filed a request for a hearing before the Nasdaq Hearings Panel, which could postpone the February 19 suspension while the panel reviews the company’s plan to regain compliance. If the appeal is denied, X3’s shares will be removed from Nasdaq and will trade only on over‑the‑counter markets, dramatically reducing liquidity and visibility for investors.
The delisting threat highlights the company’s ongoing struggle to meet Nasdaq’s minimum bid‑price requirement and signals a significant risk to its market presence. Even if X3 successfully appeals, the reverse split and the high short interest suggest that restoring investor confidence will be challenging, and the company’s future on a major exchange remains uncertain.
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