The stock price continues to be less then $1. I read somewhere about people watching it for 30 days and if it's under $1 that long something happens....can anyone help me out here?
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Yes, trading days.
Oh I guess I was counting calendar days and maybe had wrong start date...so it's weekdays only (Wall Street days)
June 27 is the 30th day if the current series holds. The current series started on May 16.
I read somewhere below that a campus president received a pay raise. This seems suspect when CCI is floundering and has severed many of their most knowledgeable, experienced employees. What is the possibility that pay raises were handed out to top management with a very strong suggestion that the funds be invested in CCI stock? Would those "pay raises", if invested, be adequate enough to produce a pseudo rally?? Going back to Himanshu H. Shah, a major investor and motivator of what CCI does, who urged "all members of the Board and top management to meaningfully purchase Corinthian stock in the open market". would it be so ironic that, when their staff is similar to a ghost ship, enrollment dismal, instructors and educators dismissed, that a monetary reward would be handed out to top management with a strong request to purchase stock? Suggestion...if you are at the bottom of the Corinthian Columns...get out. Those at the top are in even worse shape than you. They've dedicated their lives to something that they have no control or understanding of.
June 19th will mark the 30th day if the stock continues to be under $1. This will be great
Who knows, if the short sellers need to cover, then the price could spike up higher...
In the last five days the stock has been trending higher, after hitting its lowest point ever. All it needs is one day at $1 or more to reset the 30 day clock. Interestingly enough the 30 days will end before the current fiscal year, if the current series of under $1 closings is not broken, or some other event, such as a reverse split.
I hope they get caught up in that situation and struggle I want that company to go
down
NASDAQ has rules about stocks staying above $1. After 30 consecutive trading days of closing below $1, a corrective notice is sent. CCi can easily correct by a reverse split, and can continue to do so until under $1M in market value is a problem. If the price is not corrected, then the stock is eventually delisted.