NASDAQ Approves A Hard $5 Million Market Value Floor For Continued Listing – And Is Stayed Pending A Petition For Review
On July 22, 2026, the SEC approved Nasdaq’s proposed rule adopting a hard $5 million Market Value of Listed Securities continued listing requirement across all Nasdaq tiers. Filed under Release No. 34-105971 (File No. SR-NASDAQ-2026-004), the new rule became effective immediately upon approval without any transition or grace period.
This final action formalizes the proposal that was initially submitted earlier this year, which I analyzed when first introduced HERE. The approval is a hard blow for small cap listed companies struggling with lower market values over the past year. For boards, executive teams, and deal participants, understanding the procedural mechanics of this rule is essential to maintaining listing eligibility and protecting market access.
In light of the significance of the rule, it is not surprising that the SEC received a notice of a petition to review the action. In accordance with SEC’s Rules of Practice, the new rule has been stayed until the SEC orders otherwise. Although the rule Read More »
