Search Results for keywords:"reverse stock split"

The NYSE American LLC has submitted a proposed rule change to the Securities and Exchange Commission (SEC). This proposal is about changes to the company's rules that would allow for the suspension and delisting of companies if they perform large-scale reverse stock splits or if such splits cause their stock to fall below the listing standards. The SEC is considering whether to approve or reject this proposed change and has extended the deadline to make this decision until February 2, 2024.

The Securities and Exchange Commission (SEC) has approved a rule change by the New York Stock Exchange (NYSE) that restricts certain companies from using reverse stock splits to continue being listed on the exchange. This new rule targets companies that repeatedly use reverse stock splits, especially if they have done so in the past year or have a significant reverse split history in the last two years. The SEC believes this rule will help protect investors by ensuring that companies listed on the exchange are financially stable and suitable for continuing public trading. Companies can still appeal if they are delisted due to these new rules.

The Securities and Exchange Commission (SEC) has approved rule changes proposed by Nasdaq to enhance the enforcement of listing standards for companies trading on its exchange. The approved changes involve the suspension of trading for companies that have not met the minimum bid price requirement after a second compliance period, even if they appeal the decision. Additionally, Nasdaq will not allow a compliance period for companies that fail to meet the bid price requirement within one year of a reverse stock split. These changes are intended to protect investors by reducing the risk of manipulation and ensuring the integrity of the stock market, particularly by addressing issues with companies that repeatedly fail to meet listing standards.