Cramer survives shareholder uprising at TheStreet
Jim Cramer, the perspicacious host of CNBC’s “Mad Money” and the co-founder of The Street.com, has survived an uprising by a disgruntled shareholder at his financial news company, reports Keith Kelly of the New York Post.
Kelly writes, “But shareholders at last week’s annual meeting sided with The Street’s nominees over Cannell’s people.
“But that doesn’t mean Cramer or his company has steered clear of turbulence.
“TheStreet is facing a possible delisting on June 12 because of its stock price: Nasdaq requires that shares trade at above $1 for at least 10 consecutive days. TheStreet’s stock has failed to do so over an extended period of time.
“It closed on Tuesday at 90 cents, unchanged.
“While it has already technically not met Nasdaq’s listing requirement, TheStreet can appeal any adverse decision — and ask for additional time to break above a buck.”
Read more here.