NYSE's Rule Section 802.01C stipulates that the price of a stock must not fall below $1 for a consecutive 30-day trading period, nor should it have an average stock price closing below $2 in the same period. If this happens, the stock is considered non-compliant, and the company has six months to bring its share price and the average share price back above $1. If the company fails to do so or fails to acknowledge the fact, suspension and delisting procedures can take place.
IMUC is registered at
AMEX, but traded on
NYSE. It has been under $1 for over 30 days, but no non-compliance note has been issued. Is that because it is not registered on NYSE?
Does a company registered at AMEX has to follow the $1 minimum price rule if traded on NYSE?
Also, does the rule applies to 30 business (trade) days, or calendar days?