TheStreet receives delisting warning
Financial news site TheStreet.com received a warning that its stock will be delisted from NASDAQ if it is unable to raise the price above $1 in the next six months.
In a Securities and Exchange Commission filing, the New York-based company said the minimum bid price of its stock on the NASDAQ has closed below $1 per share for 30 consecutive business days.
TheStreet has until June 12 to get the stock to close at $1 per share or more for a minimum of 10 consecutive business days.
In the past year, the company has named a new chief executive officer in David Callaway and a new editor in chief in Tara Murphy. It’s also cut some of its editorial staff and some of its business staff.
The stock closed at 92 cents, up a penny, on Friday. It last closed above $1 on Oct. 31.
The stock was above $15 in October 2007 and above $35 in May 1999.