Nasdaq gives Harris more time to raise share price
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US— The Nasdaq stock exchange has given Harris Interactive another four months to raise its share price or face being taken off the exchange.
The agency was warned in June last year that its shares had dipped below the $1 minimum and that it faced being taken off the exchange if it didn’t regain compliance with the rules by 12 December. When that deadline passed, the firm was given the chance to appeal, and it presented a plan to get its share price back up. It has now been given until 11 June to reach a minimum price of $1 per share for ten consecutive business days.
The extension represents the maximum length of time that Nasdaq can give Harris to regain compliance. The company’s shares were trading today at $0.79.
The firm was previously warned about its stock performance in September 2009 and September 2010 but on both occasions it was able to bring its shares back above the $1 dollar threshold within the required time.
