Circuit City's Stock Is Too Low For The NYSE

More bad news for Circuit City. Its stock is trading so low that it is in danger of being delisted from the New York Stock Exchange.

CNet explains:

According to a form Circuit City filed with the SEC Thursday, the NYSE said the company’s stock was “below criteria” because the average closing price was less than $1 per share for the 30 previous days. NYSE requires any company’s minimum average over that time period to be $1.

Circuit City’s stock closed Friday down 4 cents to reach 26 cents.

Now that Circuit City has received the notice, it has six months to get the stock’s act together. As long as the average 30-day closing price is more than $1 sometime during the next six months, it can stay listed.

Circuit City has 10 days to respond to the NYSE that it plans to get its stock back above $1. In the meantime, the company’s CC ticker symbol will be followed by a “.BC” to show it’s below continued listing standards.

Things are not looking up for CC.

Circuit City gets delisting notice from NYSE [CNet] (Thanks, dohtem!)
(Photo: cmorran123 )