Companies listed on the Nasdaq Stock Market must continue to comply with the listing standards. Nasdaq will delist a firm if it cannot meet the minimal standards. Delisting may occur if a firm doesn’t achieve a minimum bid price of one dollar for thirty straight trading days. When this happens, Nasdaq sends the firm a deficiency notice. A firm has 180 calendar days after receiving a deficiency notice to get back into compliance. During this period, the firm must acquire a closing price of one dollar or higher for ten straight trading days. A delisting letter will be sent to a firm by Nasdaq if it violates the minimum requirements during the first or subsequent grace period.