Thread regarding McDermott International Inc. layoffs

What happens when a stock falls below $1 on NYSE?

Isn’t there some limited amount of time before shares can no longer be traded?

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Post ID: @1227LH7E

7 replies (most recent on top)

im bored

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Post ID: @1227LH7E-3fzf

A company that falls short of the NYSE's financial criteria gets delisted, too. For example, capitalization of less than $15 million over a 30-day trading period is grounds for delisting. ... A company can also be delisted if its share price falls below $1 for 30 consecutive trading days.

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Post ID: @1227LH7E-3oky

last post, good tip if i ever want to lose the rest of my money

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Post ID: @1227LH7E-1yrz

It may be off nyse but you can still trade the stock. I buy pennies all the time via eTrade.

Just a terrible look for the company and you need Stock broker that’ll buy it for you.

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Post ID: @1227LH7E-1tdm

NYSE delists penny stocks after 30 days.

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Post ID: @1227LH7E-1cks

NYSE has two requirements

Share price over $4 and market cap over $50M

MDR can do a reverse split to put the share price above $4. However, they have not executed this, in theory because they know the price will inevitably fall bringing the market cap below $50M.

At this junction, it’s a moot point to do a reserve split in the name of meeting NYSE requirements.

Unless MDR pays down their debt, then the future is grim.

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Post ID: @1227LH7E-1wgf

1 year to go above $1.

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Post ID: @1227LH7E-qpn

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