NEW YORK (TheStreet) -- Sirius XM (SIRI) isn't alone in staring down a March 15 delisting deadline.
Sirius XM, like several other companies, has until Monday to satisfy a Nasdaq listing rule that requires a stock to maintain a minimum bid price of $1. With time running out, investors in these companies are left wondering what the future will look like for their penny stock picks. In addition to Sirius XM, the following 10 stocks, ranked by revenue over the trailing 12 months, are on the Nasdaq's list of deficient companies as of March 9 and are in danger of being delisted.
Closing price: 73 cents (March 11)
Revenue: $364.3 million (trailing 12 months)
Received Nasdaq notice: Sept. 16, 2009Management's expected action: On Feb. 8, ChipMOS (IMOS) said it submitted an application to transfer its listing to the Nasdaq Capital Market from the Nasdaq Global Select Market. "If the transfer listing application for listing its securities on the Nasdaq Capital Market is approved, Nasdaq will notify the company that it has been granted an additional 180 calendar day compliance period, commencing on March 16, 2010," ChipMos said. TSC Ratings call: Sell. Its third-quarter loss widened to $32 million, or 41 cents, from $18 million, or 22 cents, a year earlier. Revenue declined 4.9% to $105 million. The operating margin delved deeper into negative territory, hitting -31%. ChipMOS holds $154 million of cash and $551 million of debt. Its stock tripled in the past year, hitting a high of 99 cents. It currently trades at 72 cents. Shares are cheap based on book value and sales.
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