Salt Lake-based SOS Staffing Services Inc. on Friday said its common stock has begun trading on the Nasdaq SmallCap Market.
The company had applied for the switch after Nasdaq determined SOS did not meet the minimum bid price requirement for continued listing on the Nasdaq National Market.
The company has until Oct. 21 to comply with the minimum bid price requirement of the SmallCap Market, which requires the company to maintain a $1 minimum bid price for at least 10 consecutive trading days.
If the company does not meet the minimum bid price requirement at the expiration of all grace periods, the common stock may be subject to delisting from the SmallCap Market, although the securities may then be quoted in the over-the-counter market.
SOS Staffing provides commercial staffing and employment-related services through a network of about 94 offices.