Why no delisting for CHK??

I thought if a stock trades under $1 for a certain amount of time it gets delisted....

https://pocketsense.com/happens-stock-falls-below-1-nyse-10639.html

CHK has been under $1 for a while now, so what am I missing?

While we are here can someone explain what happens if you have shares and it gets delisted, do your shares become worthless? Is the company finished or can it be bought out? if so will your shares go up in value and can it come back to the stock market?

Thank you for any help

 

They will be delisted and will continue trading on OTC markets. For now they may be appealing and contemplating a reverse split.

 

When OTC you can still buy and sell? also can they come back to the market if things turn around for the company?

 

You might want to put CHK on your watch list. It would be like a "cheap option with no expiration date". The oil war won't rage forever.

I remember when Mini Scribe (HDD maker offshoot of IBM?) traded down to $.31, and a couple of years later, $80.

 

You can trade OTC stocks through most brokers, shouldn’t look different than currently but may get a different ticker/symbol.

And yeah, they can relist on NYSE or NASDAQ in the future.
Some stocks always trade on OTC, like Nintendo:
https://www.otcmarkets.com/stock/NTDOF/overview

 

but how does it work when you own shares and

so as long as the company does not go under you will own these shares right and you can sell them at any point?

CHK could maybe get bought and come back one day?

 

Yes. All possible. But you're betting they don't completely wipe out and the stock goes to zero... after all, there is a reason the stock has sold down to where it is.... but is it just "really bad for now" or is it fatal?

 

CHK was fucked before the oil war. lottery ticket at best.

 

You should be able to sell at any point, although some of such stocks reverse split multiple times and can become worth less than a penny. Mostly small businesses that don’t produce anything.


And yes, according to quantum theory pretty much anything can happen, whether in one universe or another.

 

Could end up like buying Bitcoin @ $.15, and having it sky to $20,000! You'd like that, wouldn't you?