NEW YORK ( TheStreet) -- Ravi Shukla has a fairly simple morning routine, not unlike many investors: He'll wake around 5:30 a.m. He'll make some tea. Then he'll fire up his computer to check on his financial state: Savings and checking accounts, credit cards and investment portfolio, among others.
But on Monday, Sept. 21, with a cup of black tea at the ready, Shukla stared at his portfolio on Google Finance. There, he saw the announcement that rocked one of his beloved companies. After the previous Friday's close, DayStar Technologies (DSTI), a maker of thin-film solar products, said that it received a "deficiency letter" from the Nasdaq Stock Market. The company's stock had failed to keep its bid price above $1 for 30 consecutive days, one of several criteria that could cause the exchange to delist the company, or remove it from regular trading.
He was far from alone.
According to data from iMetrix by Edgar Online, 114 companies with trailing 12-month revenue of $1 million or more have seen their share prices slump below $1 between the beginning of this September and the start of this month. The top ten include Sirius XM Radio (SIRI), followed by the likes of FairPoint Communications (FRP), Mesa Air (MESA), Champion Enterprises (CHB) and ChipMOS (IMOS).
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV