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Posted at 1:31 PM EDT (1731 GMT)
 Nov. 1st, 2008 -- Six Flags received a second letter from the New York Stock Exchange warning it that it could be delisted from the stock exchange.
Six Flags already faced delisting for its low share price in a first letter, and the second letter warned it of its low capitalization.
Six Flags said it wasn't in line with the NYSE's rule of maintaining and market cap and shareholders' equity of more than $75 million each.
The company's stock tumbled near $1 earlier this summer.
It got a letter Oct. 2 saying its stock was below the $1 threshold on a 30-day average.
For more, visit Reuters.
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Steven
Joined: Jun 2001
Posts: 7791
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Well, there is always the OTCBB.
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| 11/1/2008 2:18 PM |
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Carowinds 73-03
Joined: Apr 2003
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I don't really follow this type of stuff but just what happens is SFI is delisted?
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| 11/1/2008 2:45 PM |
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Wes
Joined: Sep 2001
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They'd lose money I'm assuming, plus they can't basically have anyone that is able to invest in the company.
Junk bonds here we come.
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| 11/1/2008 3:52 PM |
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salcorn
Joined: Nov 2008
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Listing on the NYSE is a prestige issue, and has monetary value associated with it by making the stock more actively traded. But the stock is still the same, even if it can only be sold on other exchanges. They had considered a reverse stock split to get the share price above $1, but this won't do any good if the total outstanding shares are worth less that $75M, as they still won't qualify to remain listed on the NYSE.
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| 11/1/2008 4:53 PM |
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tntornadox
Joined: Mar 2004
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Maybe they will attempt to take the company private?
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| 11/2/2008 1:53 AM |
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Leo C
Joined: May 2001
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Bad. : (
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| 11/2/2008 7:40 AM |
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Michael C
Joined: Sep 2002
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I suspect we will hear something regarding their plans for this at the quarterly conference.
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| 11/4/2008 2:44 PM |
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Steven
Joined: Jun 2001
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Usually, if they get delisted off the NYSE, it's still a public company. In most cases though, it's traded directly or on an exchange like the OTCBB or the Pink Sheets.
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| 11/4/2008 4:23 PM |
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