Sirius XM, like several other stocks, has until Monday to satisfy a Nasdaq listing rule that requires a stock to maintain a minimum bid price of $1. While Sirius XM has several options it can use to regain compliance, investors in other companies are less sure of what the future holds for their penny stock investments.
If a stock closes below the $1 mark for 30 consecutive business days, it is granted a grace period of 180 calendar days to regain compliance with the Nasdaq's listing requirements. To regain compliance, a stock like Sirius XM would have to close at or above $1 for a minimum of 10 consecutive trading sessions.
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