The New York Stock Exchange has warned Richmond electronics retailer Circuit City that it could be delisted as soon as April because it stock price has fallen below $1 per share.
The exchange informed Circuit City last week, and the company has 10 days to write a letter to the exchange detailing how it will improve its stock price. The exchange said Circuit City must bring its stock price above $1 and keep it there for 30 days.
Circuit City stock closed at 30 cents on Thursday. (Richmond Times-Dispatch)
INACTION BY CIRCUIT CITY BD.DIRECTORS AND EXECS WILL FORCE THIS COMPANY INTO BANKRUPTCY. COMPANY CANNOT SIT ON ITS HANDS CONTEMPLATING ITS NAVEL. POOP OR GET OFF THE POT. POOR EXECUTION OF CORPORATE GOALS LED TO THIS FINANCIAL DISASTER. TOO MUCH EXPANSION, TOO LITTLE ACTION TO REIGN IN EXPENDITURES. NO CASH FLOW.
--chuck jones of nyc
Oct. 31, 2008 at 05:01 PM