Thread regarding Corinthian Colleges Inc. layoffs

$1 rule can be curbed by a 10 to 1 reverse split that would bring the stock to $2.90 and everyone would own 1/10 as many shares. Market cap today is 25M. So if it went below a dollar AGAIN after the rev split , market cap would be an issue too at that point. Being delisted from the Nasdaq is a slap in the face saying it's not much of a decent company anymore. $1 rule, Nasdaq who cares , really. What campuses are worth someone buying is the big question.

Anyone know what campuses on their own are profitable ?

$5M in market cap: "5450. Continued Listing Requirements and Standards for Primary Equity Securities

A Company that has its Primary Equity Security listed on the Global Market must continue to substantially meet all of the requirements set forth in Rule 5450(a) and at least one of the Standards in Rule 5450(b). Failure to meet any of the continued listing requirements will be processed in accordance with the provisions set forth in the Rule 5800 Series. A security maintaining its listing under 5450(b)(3) need not also be in compliance with the quantitative maintenance criteria in the Rule 5500 series. (...) (1) Equity Standard

(A) Stockholders' equity of at least $10 million;

(B) At least 750,000 Publicly Held Shares;

(C) Market Value of Publicly Held Shares of at least $5 million; and

(D) At least two registered and active Market Makers. (...)"

There is also a market capitalization rule.

So the whole $1 rule is basically meaningless? Why do people talk about it then?

I've seen many: 1 for 2, 4 for 5, 1 for 10, 2 for 7, ... NOTE: Your ownership position does not change. That is you still own the same percentage of the company after a split or reverse split.

Hmm. Reverse split at 28 cents is 56 cents, right? Are they allowed to DOUBLE reverse split?

30 days is the first step. Now CCi has 180 days to keep the price about $1 for 10 days. Reverse split is the most used solution, but that does not increase market capitalization.

Yes but who cares. There will be no such company to delist in 6 months. The sink is overflowing in your room on the titanic.

Could you explain what that means? I had heard that a company can be delisted from NASDAQ after 30 days below $1. Is this related/ What happens in the 180 days?