Broke in CVG
Broke AGAIN in CVG!
- Joined
- Dec 11, 2001
- Posts
- 385
The company that runs the Nasdaq Stock Market said Tuesday it will reinstate a rule that requires publicly held shares to have a $1 minimum closing bid price and a certain minimum market value on Aug. 3.
The Nasdaq OMX Group Inc. suspended those rules in October, citing unprecedented turmoil in the market, and it moved to extend the suspension in December and March.
The reinstatement was announced Tuesday.
In a filing with the Securities and Exchange Commission, the Nasdaq OMX Group said that based on discussions with commission staff, it does not expect a further extension past July 31.
Under the rules, a stock faces delisting if it fails to achieve a $1 closing bid price for 30 consecutive business days. It has at least six months to resolve the problem by having a closing bid price above $1 for 10 consecutive business days.
Companies whose shares fall below certain minimum market values for 30 consecutive trading days are given three months to resolve the problem.
MESA SUCKS - BYE, BYE
The Nasdaq OMX Group Inc. suspended those rules in October, citing unprecedented turmoil in the market, and it moved to extend the suspension in December and March.
The reinstatement was announced Tuesday.
In a filing with the Securities and Exchange Commission, the Nasdaq OMX Group said that based on discussions with commission staff, it does not expect a further extension past July 31.
Under the rules, a stock faces delisting if it fails to achieve a $1 closing bid price for 30 consecutive business days. It has at least six months to resolve the problem by having a closing bid price above $1 for 10 consecutive business days.
Companies whose shares fall below certain minimum market values for 30 consecutive trading days are given three months to resolve the problem.
MESA SUCKS - BYE, BYE