Stanley avoids Nasdaq delisting
May 18, 2017,
HIGH POINT – Stanley Furniture has received notice that it no longer faces delisting on Nasdaq following the return of its per share stock price to $1 or greater for 10 consecutive business days.
The Nasdaq Stock Market notified Stanley on Feb. 10 that its common stock was not in compliance with the minimum bid price as its per share price had been below $1 for 30 consecutive business days. As a result, it said the company could be delisted unless the stock price rose for at least 10 days before Aug. 9.
The news comes on the heels of Stanley’s latest financial results released April 18, which showed improved financial performance during the first quarter.
“This is just the first of many signs to come of Stanley building back a business where we serve our customers like we want to,” said Glenn Prillaman, president and CEO. “And when we do that our business gets better.”
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