My former employer, CMGI, is going to transfer to the NASDAQ SmallCap market on November 1st. The requirements for being listed on the NASDAQ SmallCap market are somewhat less rigorous than the requirements for the main NASDAQ market. It does retain the minimum share price of $1 requirement, however, which CMGI doesn’t currently meet. I would expect a reverse stock split sometime in the next 180 days.
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I have heard that the NASDAQ $1 may be relaxed for
companies that meet other criteria.
I could make the argument that the NASDAQ $1 minimum doesn’t
matter much these days, because there aren’t a lot
of companies filing for IPOs. (For other, more
prestigious indexes, it matters more.)
still@av