RadioShack Corp.'s stock was suspended from trading on the New York Stock Exchange on Monday, as the exchange begins delisting the company.
RadioShack, which trades under the ticker symbol "RSH," failed to reach compliance after first being warned in July that it could be delisted.
The NYSE said RadioShack does not intend to submit a business plan to address the noncompliance of the exchange's rules, which state that a company must have an average global market capitalization of at least $50 million over 30 days of consecutive trading or stockholders' equity of at least $50 million.
If it's delisted, RadioShack could request a review by the Committee of the Board of Directors of NYSE Regulation. NYSE indicated it will apply to the Securities and Exchange Commission to delist the common stock.
Read more Click here / www.trade4x.net
RadioShack, which trades under the ticker symbol "RSH," failed to reach compliance after first being warned in July that it could be delisted.
The NYSE said RadioShack does not intend to submit a business plan to address the noncompliance of the exchange's rules, which state that a company must have an average global market capitalization of at least $50 million over 30 days of consecutive trading or stockholders' equity of at least $50 million.
If it's delisted, RadioShack could request a review by the Committee of the Board of Directors of NYSE Regulation. NYSE indicated it will apply to the Securities and Exchange Commission to delist the common stock.
Read more Click here / www.trade4x.net
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