Absent other dramatic changes, it’s possible that Borders will need to execute a reverse stock split if its shares stay below $1 as the Ann Arbor News notes. “According to the NYSE, a company is sent a delisting warning letter if its average closing stock price falls below $1 for 30 consecutive trading days. The company then has six months to get the share price above $1.” Borders Anne Roman comments: “We are of course mindful of the stock price and we are mindful of what the New York Stock Exchange rules are as it applies to stock prices. We […]
