Posts Tagged ‘delisting’

Kodak Threatened with Stock Delisting as It Prepares to File for Bankruptcy

Kodak was warned by the New York Stock Exchange yesterday that its stock will be delisted if its price remains under $1 for the next six months. The stock has had an average closing price of below $1 for over 30 consecutive days now, and is no longer compliant with the NYSE’s requirement for minimum share price. Sadly, the company might not last another six months: the Wall Street Journal reported today that the company is now preparing to file for bankruptcy, which will likely happen in the coming weeks unless the company succeeds in its efforts to sell its 1,100 digital imaging patents. The revelation added insult to injury as the stock price plummeted another 28% today.


Image credit: NYSE by brian glanz