Pacific Ethanol will be booted from the NASDAQ unless its stock goes up soon.
NASDAQ sent a letter last week notifying Pacific Ethanol that “it does not comply with the $1.00 minimum bid price requirement for continued listing on The NASDAQ Global Market set forth in NASDAQ Listing Rule 5450(a)(1).” The company has been given 180 calendar days, or until March 14, 2010, to regain compliance. The last time the company’s stock was above $1 was November 7, 2008. In the last year, the high for the stock was $2.08, with the low at 20 cents. Shares of Pacific Ethanol closed at 59 cents today, up two cents.