Brentwood, Tenn.-based Quorum Health announced Dec. 6 that it received a continued listing notice from the New York Stock Exchange for the second time this year.
The NYSE's continued listing standards require the average closing price of a company's stock to be at least $1 over a consecutive 30 trading-day period. As of Dec. 3, the 30-day average closing price of Quorum's common stock was $0.90.
Quorum has six months to regain compliance with the minimum share price requirement. "The company plans to notify the NYSE within 10 business days of its intent to cure the deficiency," Quorum said in a release.
The NYSE notified Quorum in April that it was not in compliance with listing standards because the company's average market capitalization dipped below $50 million over a consecutive 30 trading-day period and stockholders' equity of the company was less than $50 million. Quorum submitted a compliance plan to NYSE on June 10, and the plan was accepted. The company said Dec. 6 that it is implementing the plan to regain compliance with listing standards.
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