Justin Sun’s TRON stock nears delisting price

While Protos has repeatedly covered the bizarre entity that is Justin Sun’s TRON Inc.

While Protos has repeatedly covered the bizarre entity that is Justin Sun’s TRON Inc., including its string of merchandise for children , the stock price has continued to tumble.

Now, it’s hovering minimally above the $1 threshold necessary to stay listed on Nasdaq.

So what’s going wrong and is there any chance TRON can fend off a potential delisting?

TRON’s stock has continued to decline and is now hovering only 15 cents above $1.

What is TRON Inc. and what happened?

TRON Inc. is basically a TRON treasury company, similar to Strategy in relation to BTC, but without the complex financial shenanigans.

Instead, TRON Inc buys, holds, and stakes the TRON cryptocurrency, along with purchasing old IP and selling children’s toys and accessories.

TRON doesn’t spend or make very much money but this hasn’t stopped Sun from repeatedly shilling the company by pretending its regular minimal purchases of more TRON are bullish for the crypto and the treasury company.

Despite these purchases and the incessant shilling by Sun , the stock has continued to decline, and is now hovering only 15 cents above $1.

This is important because if TRON closes below $1 for 30 consecutive trading days, the stock starts a 180-day compliance period and then becomes eligible for delisting from Nasdaq.

However, TRON and Sun still have a few more tricks left up their sleeves.

TRON Inc.’s TRX came from HTX after UK sanctions

Read more: Prime Trust wins $9M judgment against Justin Sun-owned Poloniex

Delisting any time soon unlikely

While TRON’s shares have fallen 50% from its highs earlier this year, the company isn’t as doomed as the charts suggest: if necessary, it can always do a reverse stock split to at least temporarily keep the price above a dollar.

It also faces no real danger in any other regard when it comes to delisting, as its market cap and financials aren’t close to triggering any delisting protocols.

Meanwhile, the company recently entered into an agreement with Clear Street to act as a broker to sell shares of TRON to its clients. It’s unclear if this will truly benefit the struggling company.

TRON Inc. currently holds just over $250 million worth of TRX, according to its publicly listed wallet address .

This means that the current market cap of the company — over $500 million — values it at nearly two times its assets.

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