Justin Sun-linked TRON Inc. stock drifts toward Nasdaq’s $1 delisting threshold
TRON Inc., the Justin Sun-linked company centered on holding and staking TRON’s TRX token, is trading just $0.15 above the $1 minimum bid threshold tied to continued Nasdaq listing standards, according to Protos. The report says that if the stock closes below $1 for 30 straight trading days, the company would enter a 180-day compliance period and could then become eligible for delisting. Protos describes TRON Inc. as a treasury-style vehicle that buys, holds, and stakes TRX, while also acquiring older intellectual property and selling children’s toys and accessories. Despite repeated promotion from Sun around the company’s TRX purchases, the stock has kept falling and is now down 50% from its highs earlier this year. Still, the report argues that an immediate delisting is unlikely. TRON Inc. could use a reverse stock split to push the share price back above $1, at least temporarily, and Protos says the company’s market capitalization and financial condition are not close to triggering other Nasdaq delisting protocols. The company also recently entered an agreement with Clear Street, which will act as a broker to sell TRON shares to its clients. Protos adds that it is unclear whether that arrangement will materially help the company. Based on its publicly listed wallet address, TRON Inc. holds just over $250 million in TRX, while its market capitalization stands above $500 million, valuing the company at nearly twice its assets.
