Wednesday, March 31, 2010
Active Power Gets Nasdaq Warning
Austin-based Active Power reported Tuesday afternoon that the firm has received a letter from the Nasdaq Stock Market, warning it that for the previously 30 consecutive business days, that the bid price of the company's common stock closed below the minimum $1.00 per share requirement. According to Active Power, it has 180 calendar days--until September 20th--to regain a $1.00 per share price, otherwise it will face delisting. Active Power is currently listed on the Nasdaq Global Market; the firm said it has the option of moving to the Nasdaq Capital Market if it fails to meet the bid price requirement. The warning is the second bid price warning for the firm; it also was warned, but regained compliance, on its bid price in August of 2008.