8 Penny Stocks Get Delisting Warning
BOSTON (TheStreet) -- The U.S. stock indices finished off 2010 with big gains in December, with the S&P 500 up 6.5%, and the Nasdaq rising 6%.
Despite these gains, eight stocks trading on the Nasdaq and New York Stock Exchange were pushed closer to delisting from the exchanges as share prices languished below $1.
All were notified in December that they are in violation of a rule that requires their shares to top the $1-a-share threshold. The following companies now have less than six months to regain compliance.
Capitol Bancorp (CBC) Company Profile: Capitol Bancorp is a multibank holding company which, through its subsidiaries, provides a range of banking services, including commercial banking, property and casualty insurance, life insurance, portfolio management and mortgage origination and servicing. Current Share Price: 53 cents (Jan. 3) 2010 Stock Performance: -76% Received NYSE Notice: Dec. 1 Management's Expected Action: Capitol Bancorp said that it will notify the NYSE of its intent to cure the price deficiency, as required by the exchange in order to maintain listings of the company's common shares. "Capitol is currently exploring alternatives for curing the deficiencies and restoring compliance with the continued listing standards," the company said in a statement.
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