Spanish Broadcasting System can stay on NASDAQ

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Posted by Bud on February 16, 2010 at 15:03:00:

Spanish Broadcasting System can stay on the NASDAQ exchange at least through June 7

Miami-based SBS pleaded its case at a January 7 hearing and has received an extension of time to get its stock above the $1-per-share minimum set by the exchange. At some point between now and then, it will have to maintain a share price of $1 or more for 10 consecutive trading days, or forfeit its place on the exchange. Spanish Broadcasting System went public in November 1999. The highest its stock has traded in recent months was 89 cents, in October 2009. Today’s trading on “SBSA” has been in the range of 70 cents.

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: Spanish Broadcasting System can stay on the NASDAQ exchange at least through June 7 : Miami-based SBS pleaded its case at a January 7 hearing and has received an extension of time to get its stock above the $1-per-share minimum set by the exchange. At some point between now and then, it will have to maintain a share price of $1 or more for 10 consecutive trading days, or forfeit its place on the exchange. Spanish Broadcasting System went public in November 1999. The highest its stock has traded in recent months was 89 cents, in October 2009. Today’s trading on “SBSA” has been in the range of 70 cents.

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