Penton Media Inc. said it was notified by the New York Stock Exchange (NYSE) that its stock is “below criteria” for continued listing, as its stock has been trading as low as 33 cents per share amid a technology downturn, according to wire service reports.
The business-to-business list company’s average closing price of its common stock was below $1 for a consecutive 30-day period before notification.
Under NYSE guidelines, the firm must return its share price and average share price back above $1 by six months following receipt of the NYSE’s notification, or the exchange will move to delist the stock.
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