Tuniu Corporation (NASDAQ:TOUR) fell back below the $1 mark on Monday amid a steep selloff for the stock.
Shares of the Chinese online leisure and travel company fell 23.28% in afternoon trading on Monday, falling to an intraday low of $0.86. The loss on the day gave up much of the gains marked by the name in July as hopes of easing restrictions in China rocketed the stock over 100% higher in the month.
Though, perhaps more importantly, the stock dipped back below the $1 price required by the Nasdaq for listing.
The company had only regained compliance in mid-July during its swift rally after receiving a delisting warning in April. If shares trend at current levels or lower for 30 days, the company could again find itself in non-compliance with Nasdaq requirements.
Read more on Monday’s midday movers.
Read More: Tuniu tumbles back into Nasdaq non-compliance territory (NASDAQ:TOUR)