What happens when a company gets kicked off a stock exchange
Share Now on:
For the past few years, JCPenney has had a long string of management shake-ups and store closures, interrupted by the occasional bright moment. And it has the stock price to prove it: Penney’s shares have consistently been trading under the $5 mark for many months. Technically, when it crossed that line it became a penny stock. And for the past several days in a row, it’s been under $1.
Now the New York Stock Exchange has stepped in and issued a stern warning to the retailer that it’s in danger of being delisted. That could mean a new home for Penney’s shares — the over-the-counter market.
Click the audio player above to hear the full story.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.