Rite Aid Back on NYSE's Good Side

Rite Aid (RAD Quote)is back in the good graces of the New York Stock Exchange.

The drugstore received notice on Wednesday that it had regained compliance with the exchange's share price listing requirement.

Rite Aid's closing price on June 30 and average per share price for the 30-days of trading were both above $1.

Shares of the company jumped 4% to $1.57 in afternoon trading.

Rite Aid also said it does not intend to implement the reverse stock split its board and stockholders had approved in December to boost its share price and regain compliance with the listing rule.