Get the latest tech news
Nasdaq Has Hundreds of Penny Stocks. Now It's Trying to Purge Them.
Nasdaq is taking steps to purge itself of dubious companies whose shares trade below $1 each, following criticism that the exchange has become home to hundreds of risky penny stocks. From a report: [...] When a stock closes below $1 for 30 consecutive trading days, Nasdaq deems the company to be non...
Nasdaq is taking steps to purge itself of dubious companies whose shares trade below $1 each, following criticism that the exchange has become home to hundreds of risky penny stocks. Under one of the proposed changes, companies that reach the end of their second 180-day grace period wouldn't be able to postpone delisting by seeking an appeal. Effectively, the rule change caps the amount of time that sub-$1 stocks can be listed on Nasdaq to roughly a year.
Or read this on Slashdot