Sears Holdings Corp. is no longer listed on the NASDAQ exchange. Per stock exchanges rules, Sears Holdings was officially delisted this week after stock of the failing department store chain had traded below $1 a share for 30 days.
The final share price before NASDAQ delisting was 36 cents a share.
A Sears spokesman confirmed that as of Wednesday, Sears common stock began trading on the OTC Pink market under the symbol "SHLDQ." The spokesman added that "the transition does not affect our operations and does not change reporting requirements under SEC rules."
To have any chance of getting relisted on NASDAQ, Sears would have 90 days to raise stock price to $1 or more and to keep it there for at least 10 days.
That isn’t likely to happen, however, given that the company filed for bankruptcy protection on October 15, and said it would close more than 140 more stores by year’s end.
Read more at the Denver Business Journal: https://bit.ly/2yycOpz
