Hypercom Corp. has been notified that it is in danger of not meeting the listing criteria for the New York Stock Exchange after its average price fell below $1 per share for the past month.
The exchange’s rules require a closing price averaging $1 or more during 30 consecutive trading days. The company, which is one of the largest suppliers of point-of-sale electronic terminals in the world, now has six months to bring up its average listing price while its stock continues to be listed.
If the price doesn’t improve, officials for Scottsdale-based Hypercom (NYSE: HYC) said they may consider a recommendation at its next annual stockholders meeting that some of the company’s outstanding stock be consolidated.
