Urban radio specialist Radio One is having trouble keeping the price of its common stock over the critical $1 mark, and is looking at a possible exit from NASDAQ as a result.
The company’s Class D common stock is the stock in question, and according to the Washington Business Journal, it has now been underwater for 30 days, setting up the delisting process.
The RBR-TVBR stock chart for Wednesday 7/18/12 showed Radio One’s Class D issue up three cents, but that only took it to $0.95.
The Class A voting stock does not present a NASDAQ issue, but it too closed under $1, losing two cents to end the same trading day at $0.92.
This should start the clock for Radio One to regain compliance. To do that, it must return to the $1+ level for 10 consecutive days. If it fails to accomplish that feat, it’s removal from the NASDAQ list will become a possibility.
