Sirius XM Radio Inc. (NASDAQ:SIRI) Satellite Radio Operator said Thursday that it has received a second notice that it may be kicked off the Nasdaq Exchange. Sirius trades on the “NASDAQ” under the Stock Symbol “SIRI”. For the Latest information regarding “SIRI”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Sirius XM Radio Inc. (NASDAQ:SIRI) Satellite Radio Operator said Thursday that it has received a second notice that it may be kicked off the Nasdaq exchange. The company was notified in September that its share price had closed below $1 for 30 consecutive days, which violates Nasdaq policy.
The company said last month it managed to earn a small profit in the fourth quarter after a year of losses.
In a statement Thursday, the company said it will request a hearing with Nasdaq's listings qualifications panel to ask that its shares remain listed while it tries to bring the price up.
"We are committed to remaining listed on The Nasdaq Global Select Market," CEO Mel Karmazin said in a statement.
The company's board has approved a reverse stock split, which could raise prices, but Sirius said it will proceed only if it is in the best interest of its stockholders.
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