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NASDAQ to RLJ Entertainment: Your stock price is too low
//June 12, 2015
RLJ Entertainment Inc., a Silver Spring-based owner, developer, licensee, and distributor of entertainment content, may be delisted from NASDAQ by the end of the year.
The company said Thursday that NASDAQ had informed the company that the bid price of its common stock had closed below $1 per share — the minimum required for continued listing under the stock market’s rules — for 30 consecutive business days.
The stock, which trades under the symbol RLJE, closed at 42 cents per share on Thursday. In the past year, it traded as high as $4.10 per share.
NASDAQ’s notification does not result in immediate delisting of RLJ Entertainment’s common stock. The company has until Dec. 2 to get the bid price to close once above $1, or it could risk de-listing from the NASDAQ. It may also be eligible for an additional 180-day grace period after Dec. 2.
The company said in a statement it is considering available actions that could bring the stock’s value above the minimum required for continued listing.
