Banking, finance, and taxes
The Nasdaq: Where Delisting Means Nothing
Published:
Dell (DELL) got another delisting warning yesterday. It has to file its financials on time, or risk being thrown off the exchange. Dell has gotten a number of these. but Nasdaq (NDAQ) keeps pushing the decision off.
Even tiny companies like Peregrine Pharmaceuticals (PPHM) can’t get delisted. The company got a notice on July 15. The firm’s stock trades under $1. But, it has 180 days to get its shares back above that level. And, according to Nasdaq rules "If we (PPHM) are still not in compliance with the minimum closing bid price requirement after the initial 180 calendar day period but we are in compliance with all initial listing requirements other than the bid requirement, we will be afforded an additional "compliance period" of 180 calendar days within which to regain compliance."
If nothing else works, a company can do a reverse merger to get is price above $1.
Of course, Nasdaq does not want to lose any of these companies. They pay listing fees. And, how would it look if the exchange pushed out a big firm like Dell. If it did, it might have to delist all of those other firms that are not obeying the rules.
Nasdaq’s listing requirements are a joke
Douglas A. McIntyre
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
