Nasdaq 100 Now Has 7 Companies Trading Under $1
27 Sep 12:15
By Gaston F. Ceron
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--The Nasdaq Stock Market's move to waive temporarily
some of its stock-listing requirements will bring some needed relief for
companies sitting on the market's fence.
Specifically, Nasdaq put in place a moratorium on the minimum bid and public
float requirements a company must meet to keep its stock listed on Nasdaq. The
moratorium will be in effect until Jan. 2 and was prompted by the
"extraordinary market conditions" that followed the Sept. 11 terrorist attacks,
Nasdaq said. Nasdaq Chairman and Chief Executive Hardwick Simmons said in a
prepared statement that easing the listing rules "will provide greater
stability to the marketplace during these times of economic uncertainty."
Under Nasdaq's rules, companies whose bid prices remain below $1 for 30
consecutive business days will typically be contacted by the market and told to
get their stock prices above the threshold or face possible delisting. Nasdaq
hasn't said how many companies may be helped by the moratorium.
But a quick glance at the Nasdaq 100 index shows there are 7 companies whose
stocks now trade under $1. The list follows below.
- Excite@Home Corp. (ATHM), now trading at 12 cents, down 5 cents. Last close
above $1 was Aug. 15.
- BroadVision Inc. (BVSN), now trading at 89 cents, down 4 cents. Last close
above $1 was Sept. 25.
- XO Communications Inc. (XOXO), now trading at 40 cents, down 16 cents. Last
close above $1 was Sept. 10.
- McLeodUSA Inc. (MCLD), now trading at 30 cents, down 7 cents. Last close
above $1 was Sept. 10.
- Exodus Communications Inc. (EXDS). The stock hasn't traded Thursday, but
its last close was at 17 cents. Last close above $1 was on Aug. 28.
- CMGI Inc. (CMGI), now trading at 97 cents, down 3 cents. The stock closed
at $1 on Wednesday.
- Metromedia Fiber Network Inc. (MFNX), now trading at 34cents, down 6
cents. Last close above $1 was on Aug. 14.
-Gaston F. Ceron, Dow Jones Newswires; 201-938-5234;
gaston.ceron@dowjones.com
-Chad Bray contributed to this story.
(END) DOW JONES NEWS 09-27-01
12:15 PM |
