NASDAQ extends suspension of delisting rules.

jwt873

Member
Oct 12, 2008
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Looks like a bit of good news for Sirius-XM.
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http://www.247wallst.com/2008/12/nasdaq-offers-l.html

NASDAQ Offers Life To Hundreds of Stocks.

The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) is making it easier for the army of relatively new penny stocks to maintain their listings on NASDAQ. The exchange filed with the SEC to extend its suspension of the rules requiring a minimum $1.00 bid price and its minimum market value of publicly held shares.

This was initially set to expire in January, but the terms will now be extended until Monday, April 20, 2009. With as many stocks that have violated that $1.00 mark in recent weeks and months, this is hardly a surprise and it would even go against the exchange's own interests to boot this many stocks off the exchange.