tag:blogger.com,1999:blog-4726844761468242273.post2164936867266698474..comments2023-10-07T05:29:20.923-07:00Comments on McClatchy Watch: Lee Enterprises slips to under $2 a share; is McClatchy next?Unknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4726844761468242273.post-37187064596855550342008-11-07T09:52:00.000-08:002008-11-07T09:52:00.000-08:00Actually if it goes below 1.00 the stock is halted...Actually if it goes below 1.00 the stock is halted under the sub penny rule. They then have 6 months to get the price back up before being de-listed entirely. On the brighter side, the effects have other consequences that help to assure failure at that point. Being de-listed from the S&P means less exposure and removes them from automatic buys from Index and related funds. <BR/><BR/>Pricing below one dollar also removes them from baskets of available stocks from most brokerages, which increases the cost of purchasing shares considerably, sometimes as much as 1/2% just to buy them.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4726844761468242273.post-9559862682024468232008-11-07T09:23:00.000-08:002008-11-07T09:23:00.000-08:00If it goes below $1, then it will be delisted. IMO...If it goes below $1, then it will be delisted. IMO, the share price is a vote of confidence in a management team that is taking into the pits a company that could once boast secure jobs and a secure future. We need a psychiatrist to understand why Pruitt made the reckless move buying Knight Ridder when the industry laughed. Must be something about his father never being able to get higher in life than a motel manager.Anonymousnoreply@blogger.com