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Associated Press
9 hours ago
- Business
- Associated Press
PetMed Express Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Annual Report on Form 10-K
DELRAY BEACH, Fla., July 03, 2025 (GLOBE NEWSWIRE) -- PetMed Express, Inc. ('PetMeds®') (NASDAQ: PETS) received on July 2, 2025, an expected notice (the 'Notice') from The Nasdaq Stock Market LLC ('Nasdaq') indicating that, as a result of not having timely filed its Annual Report on Form 10-K for the fiscal year ended March 31, 2025 (the 'Form 10-K'), with the Securities and Exchange Commission ('SEC'), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the 'Listing Rule'), which requires timely filing of all required periodic financial reports with the SEC. The Notice has no immediate effect on the listing or trading of the Company's common stock on Nasdaq. The Notice indicated that the Company must submit a plan to regain compliance with the Listing Rule within 60 calendar days, or until September 1, 2025, and following receipt of such plan, Nasdaq may grant an exception of up to 180 calendar days from the Form 10-K due date, or until December 29, 2025, for the Company to regain compliance. On June 16, 2025, the Company filed a Notification of Late Filing on Form 12b-25 indicating that it was unable, without unreasonable effort or expense, to file its Form 10-K by the prescribed due date because the Company is continuing to compile, review, and analyze the information necessary to complete its financial statements and related disclosures to be included in the Form 10-K, as more fully described in the Company's Current Report on Form 8-K filed with the SEC on July 1, 2025. While the Company can provide no assurances as to timing, the Company is working diligently to complete its financial statements for its fiscal year ending March 31, 2025, and the Form 10-K and plans to file the Form 10-K as soon as practicable to regain compliance with the Listing Rule. About PetMed Express, Inc. Founded in 1996, PetMeds is a pioneer in the direct-to-consumer pet healthcare sector. As a trusted national online pharmacy, PetMeds is licensed across all 50 states and staffed with expert pharmacists dedicated to supporting pet wellness and the veterinarians who serve them. Through its PETS family of brands, the Company offers a comprehensive range of pet health solutions - including top-brand and generic pharmaceuticals, compounded medications, and better-for-your-pet OTC supplements and nutrition. Focused on value, convenience, and care, PetMeds and PetCareRx empower pet parents to help their dogs, cats, and horses live longer, healthier lives. To learn more, visit and Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements. Words such as 'may,' 'could,' 'expect,' 'project,' 'outlook,' 'strategy,' 'intend,' 'plan,' 'seek,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'strive,' 'goal,' 'continue,' 'likely,' 'will,' 'would' and other similar words and expressions are intended to signify forward-looking statements. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain and are subject to various risks and uncertainties, including: statements regarding the Company's ability to complete the filing of the Form 10-K within the anticipated time period; the Company's ability to regain compliance with Nasdaq listing standards; and the time required to complete the Company's financial statements for its fiscal year ending March 31, 2025. The Company's future results may also be impacted by other risk factors listed from time to time in the Company's filings with the SEC, including, but not limited to, the Company's Annual Report on Form 10-K for the year ended March 31, 2024, as well as other subsequent filings on Form 10-Q and periodic filings on Form 8-K. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release and should not be relied upon as representing the Company's views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements, other than as may be required by law. If the Company does update one or more forward-looking statements, no inference should be made that the Company will make additional updates with respect to those or other forward-looking statements. Investor Contact: ICR, LLC John Mills Reed Anderson (646) 277-1260 [email protected]
Yahoo
a day ago
- Business
- Yahoo
SEC Approves Grayscale ETF That Includes BTC, ETH, SOL, XRP, ADA
The Securities and Exchange Commission (SEC) has approved the conversion of Grayscale's Digital Large Cap Fund (GDLC) into a spot exchange-traded fund (ETF), a filing shows. The fund tracks the price of bitcoin BTC, ethereum ETH, XRP XRP, Solana SOL and Cardano ADA. The majority of the fund's weight, currently about 80%, is in bitcoin. The SEC's letter on Tuesday noted that the fund is benchmarked to the CoinDesk 5 Index (CD5). GDLC was launched in February 2018 and has since attracted nearly $755 million in assets under management. It has a 2.5% expense ratio. In a statement, CoinDesk Indices head of product and research Andy Baehr said, "We are thrilled to see SEC approval, paving the way for this Grayscale fund, benchmarked to the CoinDesk 5 Index, to be uplisted as an ETF, and enabling investors and advisors to capture the largest and most liquid digital assets in a single product." Baehr said the fund will become the largest multi-token digital asset ETF in the world. Crypto asset manager Bitwise is next in line to receive a decision from the SEC to convert its Bitwise 10 Crypto Index Fund (BITW) into an ETF. BITW holds 79% in bitcoin and the rest in ether, XRP, SOL, ADA, Sui SUI, Chainlink LINK, Avalanche AVAX, Litecoin LTC and Polkadot DOT. Sign in to access your portfolio
Time of India
2 days ago
- Business
- Time of India
Amazon founder Jeff Bezos sells $737 million worth of Amazon shares under Rule 10b5-1: What it is
jeff bezos sells amazon shares Amazon founder and executive chairman Jeff Bezos has sold around $737 million worth of Amazon stock in recent days. This is the biggest major divestment made by Jeff Bezos this year. The transactions made by Bezos were executed under the prearranged trading plan known as Rule 10b5-1. For those unaware, Rule 10b5-1 is a regulation from the Securities and Exchange Commission (SEC) that lets insiders at public companies set up a plan to sell their shares ahead of time. Under this rule, major shareholders can schedule the sale of a fixed number of shares at a set time, helping them avoid accusations of insider trading. Many company executives use 10b5-1 plans for this reason. The rule was introduced to clarify Rule 10b-5, part of the Securities Exchange Act of 1934, which is the main law used to investigate securities fraud. Jeff Bezos sells $737 million worth of Amazon shares According to the regulatory fillings made public on July 1, 2025, Amazon founder sold around 3.3 million shares of the e-commerce major. Some of the stocks were offloaded late last week and some were sold early this week. The sale of the stocks coincided with Bezos' lavish wedding in Italy. Despite the sale of $737 million worth of Amazon shares, Bezos is still the largest shareholder in the company. Bezos still has around 905 million shares of Amazon. He has historically used stock sales to fund ventures like Blue Origin, his space exploration company, and philanthropic efforts including the Bezos Earth Fund and Day One Fund. Jeff Bezos sold up to 25 million Amazon shares This is not the first time this year that Jeff Bezos has sold Amazon Shares. Amazon founder offloaded around $4.8 billion worth of the company's stocks over recently. As revealed in a regulatory filing, the former CEO plans to sell up to 25m shares through trading plan "intended to satisfy Rule 10b5-1(c)" that ends on May 29, 2026. Bezos has previously sold $13.4bn of Amazon stock in 2024. With the planned sell off revealed in the Friday regulatory filing, he will now own less than 9% of the e-commerce business. Despite this, Bezos' remaining shares are worth about $170 billion in the $2 trillion company. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
2 days ago
- Business
- Yahoo
Litecoin Slides as ETF Optimism Battles Wider Market Slowdown
Litecoin (LTC) has traded sideways over the last 24-hours, after coming down from a two-week high above the $88 mark. The token has been bouncing between $85 and $87 in today's trading session, underlining a tug-of-war between dip-buyers and sellers who treat $87 as a ceiling. Charts hint at a looming 'golden cross,' the moment a 50-day moving average climbs above the 200-day line, according to CoinDesk Research's technical analysis data model. The pattern often precedes multi-week rallies, yet momentum remains weak until bulls punch through $87. The wider crypto market, as measured by the CoinDesk 20 (CD20) index, dropped just 0.25% over the last 24 hours. Future prospects tell a bright story. Bloomberg analysts on Monday raised the chance that the Securities and Exchange Commission will green-light spot exchange-traded funds for XRP, solana and litecoin to 95% by Polymarket, the odds stand at 86%. Approval would give mainstream investors a simple way to own LTC through brokerage accounts, potentially broadening demand. Over the past 24 hours, Litecoin's price swung through a $2.09 range, equal to a 2.46% move, as traders tested both support and resistance levels. Sellers stepped in forcefully around $86.65 to $87.10, a zone confirmed by a surge of high-volume selling. Yet buyers have repeatedly defended the area between $85.02 and $85.23, which acted as a floor during midday trading on July 1. While the broader 24-hour chart sketches a bearish tone, marked by lower highs that trace a descending trendline, shorter time frames hint at brewing optimism. Litecoin earlier began to recover, climbing modestly from $85.22 to $85.59, a 0.43% increase. The rally gained traction during a brief window, when buying volume spiked past 5,500 tokens per minute, helping LTC break above a minor resistance at $85.50. Another pocket of support surfaced between $85.03 and $85.18 during the same hour. Combined with a short-term ascending channel showing higher lows, the pattern suggests that despite bigger-picture caution, LTC could be staging an attempt at upward momentum. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
2 days ago
- Business
- CNBC
Scoop up tax-free yield and keep price fluctuations in check with these bonds
An opportunity is taking shape within the world of tax-free bonds – and it may offer investors some outperformance if they're careful. Municipal bonds are beloved by high income investors as they spin off interest income that's free of federal taxes. They're also tax-exempt on a state basis if the investor resides in the issuing state – a feature that can provide meaningful savings in high-tax locales like New York and California, where top income tax rates are 10.9% and 13.3%, respectively. Retail investors have also been jumping into the space as of late, with Vanguard's Tax-Exempt Bond ETF (VTEB) scooping up $1.9 billion in inflows over the past month. Year to date, the fund has seen more than $2.7 billion in flows. VTEB has a 30-day Securities and Exchange Commission yield of 3.87% and an expense ratio of 0.03%. Even as tax-advantage yield may be attractive, investors may be missing out if they stick solely with muni bonds that are short in duration – meaning that they have less price sensitivity to changes in interest rates. Fixed income assets with short duration also tend to have shorter maturities. The upshot is that they offer solid yield when interest rates are high. However, they don't see as much price appreciation once the Federal Reserve dials back rates. Bond yields and their prices are inversely related, and longer-duration issues tend to have the greatest price sensitivity when rates fluctuate. "The crowd mentality that's driven by fear is heading to the front end of the yield curve," said Stephen McFee, senior portfolio manager at Vanguard. "They are running from that duration risk. The overlooked part of the market is the long-end part of the market." "Don't shun the long end. That's where we see value now," he said. McFee is also portfolio manager on Vanguard's Core Tax-Exempt Bond ETF (VCRM) , which has an average stated maturity of 14.4 years, but an average duration of 7.3 years. The fund has a 30-day SEC yield of 4.07%, and an expense ratio of 0.12%. A sensible approach to managing duration Adding duration to municipal bonds has also been the rallying cry at Bank of America, where strategists have been calling for a reacceleration in the muni market rally both near term and in the rest of the year. One of the reasons behind that is because headlines around tariffs aren't as shocking as they were in April – and that means that even when the 90-day reprieve on the steepest of President Donald Trump's tariffs ends next week, bonds may not see yields spike the way they did earlier this year, according to Yingchen Li, municipal research strategist at Bank of America, in a June 6 report. In a June 27 report, the Bank of America muni team said it's overweight single-A and triple-B municipal bonds, and it's sticking with its suggestion that investors add duration exposure. That doesn't necessarily mean to load up indiscriminately on the longest-dated municipal bonds, however. Active managers seem to largely be focusing on the intermediate part of the muni bond curve – that is, the 3- to 7-year part of the range – and being careful with duration, said Shannon Saccocia, chief investment officer - wealth for Neuberger Berman. This intermediate duration offers yield and the opportunity for price appreciation – but the swings aren't as dramatic as what would likely show up on the issues with longest durations. "While there's some hesitation on duration, taking a little bit of it – especially that 3- to 7-year range – and given the attractive pricing right now, it's not something to be overly concerned about," she said. "If you're looking under the hood, and you're in a double-digit duration, maybe you'll want to ask some questions, but active managers are managing that duration risk pretty well," Saccocia added. Customizing duration Investors who snap up individual muni issues for a customized portfolio can work with an advisor to determine the average duration they should have – and they can sit tight through fluctuations in prices because they are waiting for maturity. Those who use mutual funds and exchange traded funds to address their muni bond needs, however, have the benefit of liquidity — and they can get exposure to the space with fewer assets. Still, they'll see plenty of price fluctuations in the meantime. In that case, investors may want to consider working with an advisor to pair a short-duration muni bond fund with a long-duration counterpart, said Blair duQuesnay, certified financial planner at Ritholtz Wealth Management in New Orleans. "You would start with what average duration you want to have, and you blend the two," she said. "The advisor needs to be aware of what strategy is used in each fund. But if you start with 'What duration am I comfortable with?' The ratio of the two funds is based on what you want this average duration to be."
