Nasdaq(NASDAQ:NDAQ) made waves Thursday when it proposed tighter delisting processes for companies that fall out of compliance with listing standards. Targeting so-called penny stocks, the new standard may lead to struggling entities getting the boot by the stock exchange operator.
According to Reuters, Nasdaq requires companies listed on its exchanges to maintain a minimum bid price above $1. Failure to meet this standard for 30 consecutive sessions is deemed to be non-compliant and companies are given 180 days to rectify the matter. If compliance cannot be achieved within this window, affected enterprises can request a second 180-day extension.
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