ebix.com, which has boosted its share price significantly in recent days, will remain listed on the Nasdaq SmallCap Market, the company announced.
Ebix, formerly known as Delphi Information Systems, had appealed Nasdaq’s decision to remove it from the SmallCap. Part of the reason it will remain is that its shares have climbed back above the $1 per share minimum. Ebix stock closed at $2.98 on Thursday. It had recently traded as low as 45 cents.
Ebix provides software and e-commerce solutions to the property and casualty insurance industry.