iTonic Holdings (ITOC) Stock Surges Over 66% After Hours: Why Is It Moving?

iTonic Holdings Ltd (NASDAQ:ITOC) shares surged 66.42% to $0.50 in after-hours trading on Thursday after the company disclosed that Nasdaq had granted an additional 180-calendar-day extension to comply with its minimum bid price requirement.

According to Benzinga Pro data, ITOC closed the regular session at $0.30, down 1.64%.

Delisting Clock Still Ticking

Nasdaq notified ITOC on Tuesday that it approved the extension following the expiration of the initial 180-day compliance period on April 20. The new deadline is Oct. 19. Under Nasdaq Listing Rule 5550(a)(2), if the company fails to regain compliance, Nasdaq will issue a formal delisting notice. iTonic has stated that in that situation, it may appeal before a Nasdaq Hearings Panel.

Why It Matters For Investors

The rally in the extended trading session signals short-term relief, not a compliance fix.

At a regular-session close of $0.30, ITOC’s Class A ordinary shares remain well below Nasdaq’s $1 minimum bid price threshold, which requires stocks to sustain that level for 10 consecutive business days to regain compliance.

Short interest in the stock stands at 5.12%.

Trading Metrics, Technical Analysis

iTonic has a market capitalization of $5.19 million, with a 52-week range of $0.25 to $0.92.

The stock has a Relative Strength Index (RSI) of 44.19.

Over the past 12 months, ITOC has dropped 89.81%.

The small-cap stock of the Beijing-based healthcare solutions provider is currently trading close to its annual low.

Price Action: According to Benzinga Pro data, the stock closed the regular session at $0.30, down 1.64%.

Benzinga's Edge Stock Rankings indicate ITOC stock has a negative price trend across all time frames.

Photo Courtesy: SuPatMaN on Shutterstock.com

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.