TRON Inc., the Justin Sun-linked company built around holding and staking TRON’s TRX token, is now trading only $0.15 above the $1 level required to stay listed on Nasdaq, according to Protos.
That price matters because if TRON closes below $1 for 30 consecutive trading days, it would begin a 180-day compliance period and could then become eligible for delisting from Nasdaq.
What Protos says TRON Inc. is
Protos describes TRON Inc. as a TRON treasury company, drawing a comparison to Strategy’s relationship with BTC, but without what it called the more complex financial engineering. The company buys, holds, and stakes TRON, while also purchasing older intellectual property and selling children’s toys and accessories.
The report says TRON Inc. does not spend or generate much money. Even so, Sun has repeatedly promoted the company by framing its routine and relatively small TRON purchases as bullish for both the cryptocurrency and the treasury company. Those purchases have not stopped the stock from sliding, and the shares are now hovering just above the $1 threshold.
Why delisting may not be imminent
Protos notes that TRON Inc. shares have fallen 50% from their highs earlier this year. Even so, the report argues that the company is not in immediate danger of losing its listing. If needed, it could carry out a reverse stock split to lift the share price back above $1, at least for a time.
The report also says TRON faces no meaningful risk of delisting on other grounds, because its market capitalization and financials are not close to levels that would trigger other Nasdaq delisting protocols.
Assets, valuation, and a new brokerage arrangement
Protos reports that TRON Inc. recently entered into an agreement with Clear Street, which will act as a broker to sell TRON shares to its clients. It remains unclear, the report says, whether that move will provide a real benefit to the company.
Based on its publicly listed wallet address, TRON Inc. currently holds just over $250 million worth of TRX. Against a market capitalization of more than $500 million, that implies the company is valued at nearly two times its assets.
