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Friday, Feb 23, 2024

Qualstar Switches Exchange Listing

Qualstar Corp. will switch the Nasdaq market on which it trades, a move that will put the company back in compliance with Nasdaq rules, the company announced Monday. The Simi Valley tape storage and power products manufacturer will begin trading on the Nasdaq Capital Market on July 2. The company currently trades on the Global Market. The Capital Market is made up of companies with small-market capitalization and is less stringent about its listing requirements as compared with the Global Market, which lists companies with larger market caps. Qualstar was notified in May it was out of compliance with Nasdaq requirements for failing to maintain a minimum of $10 million in shareholder equity. Shares closed down 7 cents, or 5 percent, to $1.32 on the Nasdaq.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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