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Our research resources have been aimed towards the US Large Caps and the various prospective companies therein Quantum Corp. was among those that we have been closely examining due to their recent news and trading patterns. Sign up at www, streetinvesting.com for more information on the company mentioned herein.
This Friday, 31st October, 2008, Quantum Corp., the leading global specialist in backup, recovery and archive, announced that the New York Stock Exchange has notified the company that it is not in compliance with the NYSE's continued listing standard requiring that stocks trade at a minimum average closing price of $1 for 30 consecutive trading days. Under NYSE rules, Quantum must inform the NYSE by Nov. 10, 2008, of its plans for "curing" the average stock price deficiency and has until April 27, 2009, to comply with the listing standard. If the company's stock price does not reach the level required for compliance by that date, Quantum can proceed with a reverse stock split based on the shareholder approval it already received in August of this year.
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All material herein was prepared by Streetinvesting.com, (Street Investing) based upon information believed to be reliable. The information contained herein is not guaranteed by Streetinvesting.com to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Streetinvesting.com is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. Streetinvesting.com may receive compensation in cash or shares from independent third parties or from the companies mentioned.
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