Shorting stocks: Broken stocks - Analysis Message Board

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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis

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To: IA who wrote (1760)	9/10/1998 4:59:00 PM
From: Q.	Read Replies (2) of 2506

re. delisting of stocks, here's one that we missed: WELL Last time it was above 5 was a year ago, but it's interesting to see how it works: in this case the co. announced the delisting after the close of its last day of trading. The chart is impressive too: the ultimate broken stock: tscn.com WellCare Informed of Nasdaq Delisting KINGSTON, N.Y.--(BUSINESS WIRE)--Sept. 9, 1998--The WellCare Management Group, Inc. (NASDAQ: WELL), reported today that the Nasdaq Stock Market Qualification Hearing Panel notified WellCare that it has determined to delist the Company's common stock from the Nasdaq SmallCap Market, effective at the close of market on September 9, 1998, because of the Company's inability to maintain the net tangible assets requirement currently applicable to companies for continued listing on the Nasdaq SmallCap Market. The Company concurred with Nasdaq's determination that it does not currently satisfy the net tangible asset requirement and therefore accepted the Nasdaq staff's decision....

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