Monday, November 24, 2008

BearingPoint Delisted from NYSE, Stock Less Than a Nickel!


Earlier, we had blogged on how BearingPoint’s stock had fallen below 20 cents a share, clearly others were also taking notice. Just days ago on November 13, 2009, BearingPoint, Inc. received notice from NYSE Regulation, Inc. that the NYSE had decided to suspend BE's common stock from trading prior to market opening on Monday, November 17, 2008. The NYSE based its decision on the "abnormally low" trading price of BE common stock, which closed at just 7 cents on November 12, 2008. Further, BE had previously fallen below the NYSE's continued listing standard for minimum average closing price of $1.00 over a consecutive 30 trading day period and minimum average market capitalization of $100 million over a consecutive 30 trading day period...