January 15, 2009 is a key date in McClatchy's march toward being booted from the New York Stock Exchange. MNI dropped under $1 a share that day, and has stayed under $1 a share since then.
If MNI stays below $1 a share for 30 consecutive trading days, the NYSE Regulation Inc. will notify McClatchy it has to submit a plan to bring its stock price back above $1 a share. So McClatchy's 30 day period will be up February 27 or March 2, depending on whether January 15 counts as Day One.
The NYSE could allow a six-month “cure period” for McClatchy to get its share price above the minimum price. But, McClatchy could be de-listed sooner if it falls below other standards, such as the market cap minimum ($15 million).
I have put this info on the right side of the blog. I'll keep it there -- and update it -- as long as it makes sense. If MNI stages a recovery and surges over $1 a share I'll probably drop it.
.
.
3 comments:
Mark calendar, consult Goebbels media spin book, buy popcorn.
What a collection of nitwits.
Relaxed listing requirements introduced at the New York Stock Exchange could keep newspaper companies like Lee and McClatchy on the big board. The NYSE is reducing the minimum market cap to $15 million through April 22, a recognition of the damage the market has done to stocks in recent months.
Post a Comment