RUMOR MILL
Friday, May 12, 2000
K-TEL MAY BE PULLED FROM NASDAQ
Company No Longer Meets Minimum Market Capitalization, Whatever That Means
Music retailer K-tel International may be delisted from Nasdaq because it doesn't meet certain minimum requirements.
The company has until May 22 to develop a plan for getting back into compliance, company spokesman Steven Kahn said Wednesday.
The company no longer meets the minimum $50 million market capitalization or total assets and total revenue requirements for continued listing on the Nasdaq Stock Market. Market capitalization is the stock price multiplied by the number of shares outstanding.
Kahn said the news doesn't mean the company is in financial trouble. "Basically, our stock needs to trade at about $5 a share to meet the $50 million market cap," he said.
On Wednesday (5/10), shares fell $1.75 to $2.25. The stock rebounded slightly yesterday, closing at $2.44, but remained well off its 52-week high of $11.75.
VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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A CHORUS OF PRAISE: IVORS 2024 NOMSrumor mail
