I hear that a stock in Nasdaq will be forced to be delisted if its price keeps being below 1 USD for a certain period of time. But why there are still so many below one dollar stocks in the market?
Companies can delay, delay, and further delay being delisted from the Nasdaq by offering promises that they cannot necessarily keep.
They also can optionally reverse split, indefinitely, to make their share prices trade at a higher price. So, one press release saying that they will or MAY reverse split, and Nasdaq will keep them listed. After the company exhausts it's lies and promises, then it will be delisted.