NEW YORK (
) --Shares of
plunged in after hours trading on Thursday after the New York Stock Exchange announced that AMR's stock is no longer suitable for listing and that trading of the security should be suspended prior to the opening on Jan. 5.
Shares of AMR have fallen below the NYSE continued listing minimum share price standard, according to a statement from the exchange operator.
The stock tumbled 41% to 30 cents on volume of more than 1.8 million shares, according to
AMR, the parent of American Airlines,
filed for bankruptcy protection in late November.
The airline has been
searching for ways to reduce costs, including what one analyst says could include a plan for
$1 billion in route cuts.
Most of the after-hours action showed it was a day of light trading ahead of the New Year's holiday. There was little news at the close to move stocks, with tech issues like
-- typically high volume stocks -- prevalent among the after hours volume plays. Though for these stocks the after hours volume was light.
was giving back a smidgeon of its gains in the after hours session, with shares down 0.2% on volume of 1.6 million shares after the close. News Corp. shares had finished regular trading up 2.4%, buoyed by a Wall Street analyst report that argued the cancellation of
, the longest running TV show in history, and on News Corp.'s Fox network, will be a boon to the company's financial flexibility, allowing it to reap the rewards of syndication rights while no longer paying the actors who lend their voices to
-- Written by Kaitlyn Kiernan in New York.
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