Pineapple Energy (PEGY) has announced plans to regain compliance with Nasdaq’s listing requirements by July 24, 2024. The company’s shares have been trading below $0.10, violating the exchange’s minimum bid rule. To meet the requirement, Pineapple Energy plans to implement a reverse stock split before the deadline. The company will seek shareholder approval for the split at its annual meeting on July 1 and aims to enact it by July 11. PEGY stock has surged 43.7% following the announcement, with high trading volume. If the reverse stock split is approved and implemented, Pineapple Energy should be able to trade above $1 per share and regain compliance before the cutoff date.