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.
Arrowhead Research ( ARWR) Company Profile: Arrowhead Research is a development stage nanotechnology holding company that forms, acquires and operates subsidiaries commercializing innovative nanotechnologies. Current Share Price: 99 cents (Jan. 3) 2010 Stock Performance: 69% Received Nasdaq Notice: Dec. 8 Management's Expected Action: Arrowhead said in a regulatory filing that it has until June 6, 2011, to regain compliance with the minimum closing bid price requirement for continued listing. However, the company did not outline any plans to cure the deficiency. Arrowhead has previously been faced with a possible delisting for non-compliance with the Nasdaq's listing requirements. In March, Arrowhead was granted an additional 180-day grace period to regain compliance with the bid price rule before managing to satisfy the requirement in April.
Applied Energetics ( AERG) Company Profile: Applied Energetics is involved in the development and manufacture of applied energy systems for military and commercial applications. Current Share Price: 82 cents (Jan. 3) 2010 Stock Performance: 130% Received Nasdaq Notice: Dec. 14 Management's Expected Action: Applied Energetics has until June 13, 2011, to regain compliance with the minimum closing bid requirement. The company notes it may be necessary to effect a reverse stock split in order to cure the deficiency.
Central Federal ( CFBK) Company Profile: Central Federal Current Share Price: 31 cents (Jan. 3) 2010 Stock Performance: -77.2% Received Nasdaq Notice: Dec. 17 Management's Expected Action: Central Federal has a 180-day grace period until June 15, 2011, to regain compliance with the minimum closing bid price requirement. The company is "considering a number of different actions that it may take in response to this notice in order to regain compliance with the continued listing requirements, but no decision about a response has been made at this time."