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Harris Knuckles Rapped Over Share Price
In the US, the Nasdaq Stock Market has given Harris Interactive 180 days to increase its share price, as this has now fallen below the $1 per share requirement for the previous 30 consecutive business days.
Nasdaq is to give Harris Interactive until March 15, 2010 to ensure that its stock closes at $1 per share or more for a minimum of 10 consecutive business days.
If the firm does not regain compliance with this minimum bid price rule within the timeframe, its common stock may be subject to delisting.
Alternatively, Harris could move its trading from The Nasdaq Global Select Market to the Nasdaq Capital Market, provided it meets the initial listing standards. Should the company chose to do this, it will be given an additional 180 days to regain compliance.
Harris Interactive says it intends to actively monitor the bid price for its common stock between now and March 15, 2010, and will consider available options to resolve the deficiency and regain compliance with the minimum bid price rule.
Shares are currently trading at $0.85.
Web site: www.harrisinteractive.com .
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