Nasdaq Extends Suspension Of $1 Closing Price Requirement
15 Luglio 2009 - 12:15AM
Dow Jones News
Nasdaq OMX Group Inc.'s (NDAQ) Nasdaq stock market Tuesday
extended its suspension of the rules requiring a minimum $1 closing
bid price and the minimum market value of publicly traded shares
through July 31.
Nasdaq has previously extended its suspension of these
requirements for listed companies.
In the midst of the global economic turmoil, companies on both
Nasdaq and rival NYSE Euronext (NYX) have seen their stock prices
plummet. The move was initiated at a time when delistings were
surging, with the Nasdaq's delisting pace last year nearly doubling
that of 2007 and NYSE having the largest number of "for cause"
delistings in five years in 2008.
The rules are slated to be reinstated on Aug. 3.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com