Saturday, February 5, 2011

NYSE Warns Borders Stock Price Too Low For Continued Listing

WSJ: "Borders Group Inc. (BGP) said Friday the New York Stock Exchange warned that the price of its stock needs to rise above $1 a share in the next six months to continue its listing. Shares were down 2% at 39 cents in after-hours trading. Through the close of trading Friday, the stock has declined 67% in the last year, with shares particularly struggling in recent weeks as investors question the bookseller's ability to restructure outside bankruptcy court. The NYSE, a part of NYSE Euronext (NYX), notified Borders Thursday that the average closing price of its stock has failed to meet a $1 minimum over the last 30 trading days. In order to continue its listing, the company has six months to return the stock price to compliance. ... "