Stocks like Oragenics (NYSE:OGEN) has been trading below $1 for more than 6 months now. I’m curious as to why they have not yet been delisted?

Doesn’t the NYSE require stocks to be traded over $1, and if not delist them with max warning of 6 months?

  • According to finance.yahoo.com/quote/OGEN in the YTD mode, it traded above $1 five months ago. – RonJohn Dec 27 '20 at 6:07
  • Also, Oragenics is Oragenics is on the "NYSE American" exchange, not the NYSE exchange. – RonJohn Dec 27 '20 at 6:14

You've misidentified the exchange that this stock is listed on. It's listed on NYSE American (formerly known as Amex/American Stock Exchange). NYSE refers to this as a "Small Cap Equity Market".

There are various metrics used to determine whether a company is in compliance with continued listing standards. These are detailed here: https://nyseamericanguide.srorules.com/document/09013e2c853aa980/Enacted%20Law:%20NYSE%20American%20Company%20Guide,%20Sec%201002%20POLICIES%20WITH%20RESPECT%20TO%20CONTINUED%20LISTING

With respect to share price, the Exchange will require a stock to perform a reverse split if it is at a Low Selling Price for a substantial period of time. That price is $0.20. However, a reverse split doesn't change the market cap for the company - it still needs to satisfy that requirement (total market cap must be above $1M for 90 consecutive days). If it fails that then it is delisted and relegated to OTC trading.

The current set of companies that are non compliant are shown here: https://www.nyse.com/regulation/noncompliant-issuers/nyse-american

  • Thankyou CQM for the edit. Cheers, Richard. – Norgate Data Dec 29 '20 at 13:02

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