will BAC and C stocks be de-listed or be OTC, pink sheets?

Discussion in 'Stocks' started by increasenow, Feb 21, 2009.

  1. I would imagine they would have to be soon?...seriously...is there any talk about this or what are the specs for this to actually happen?...they are so low and etc..
     
  2. can anyone help with a serious answeran
     
  3. Why would you think they'd be delisted? They're above $1 and have large market caps.
     
  4. 801.00 Policy

    801.00 Policy

    Securities admitted to the list may be suspended from dealings or removed from the list at any time that a company falls below certain quantitative and qualitative continued listing criteria. When a company falls below any criterion, the Exchange will review the appropriateness of continued listing. The Exchange may give consideration to any definitive action that a company would propose to take that would bring it above continued listing standards. The specific procedures and timelines regarding such proposals are delineated in Sections 802.02 and 802.03.

    When a company which has fallen below any of the continued listing criteria has more than one class of securities listed, the Exchange will give consideration to delisting all such classes. However, the Exchange may continue the listing of one class of securities regardless of its decision to delist another class. This circumstance would usually occur when a class of listed securities falls below certain of the Exchange's distribution criteria. Any issue convertible into common stock customarily is delisted when the related common stock is delisted, except that a debt security convertible into a listed equity security will be reviewed when the underlying equity security is delisted and will be delisted when the underlying equity security is no longer subject to real-time trade reporting in the United States. In addition, if common stock is delisted for violation of any of the "Corporate Responsibility" criteria in Section 3 of this Listed Company Manual, the Exchange will also delist (i) any listed debt securities convertible into that common stock and (ii) any specialized securities listed pursuant to Section 703 of the Manual the price of which is related to that common stock.

    The Exchange will normally not approve the listing of additional shares of common stock of a company that has fallen below any of the Exchange's continued listing criteria in connection with a business combination with an unlisted company which results in the unlisted company acquiring the listed company. This would be the case regardless of which company was nominally the survivor. An exception to the above-stated policy is that the Exchange would normally approve the listing if the company resulting from the combination would meet the Exchange's original listing criteria in all respects.

    See 802 for continued listing criteria.
     
  5. I don't think this will be a problem considering how most companies that trade on OTC, pink sheets usually have a market cap <100 million. They can just do a reverse stock split if necessary.
     
  6. The NYSE has changed their de-listing standards through April 22nd.

    "The NYSE has recently decided to lower its minimum required market-cap - or the value of all of a company's outstanding shares - to $15 million through April 22. The existing regulation required the delisting of companies with a market cap of less than $25 million over 30 consecutive trading days."
     
  7. forgive me for not really understanding but...cutting right through it all...will they be delisted or not?or what is the major think to note if it will? example dropping below $1 or daily volume shrinking?thanks!
     
  8. they're both in the dow. i imagine that delisting a dow component is not as simple as delisting a nasdaq stock.

    interesting that the nyse changed their listing criteria, as a previous poster noted. obviously, their market caps are > 15 M, and therefore not subject to delisting.
     
  9. Daal

    Daal

    NYSE is penny stock land now