NYSE halts trading in Violin Memory shares

The NYSE has suspended trading in Violin Memory shares and is delisting the stock because it has not maintained an average global market capitalisation of at least $15m over 30 consecutive trading days. NYSE_VMEM_trading_halted_note NYSE Violin Memory stock quote showing Halted status This requirement is noted in Section …

[Anonymous Coward]

Just for the record, you can still be considered a public company and not be traded in a managed exchange like the NYSE. That one entry listed is an Over-The-Counter stock exchange. In this case, OTCQX Best Market is what you might call a "second-tier" exchange. There are still requirements, but they're less ornerous (I believe in this case, you have to be sponsored to get on this list). But OTC can also refer to the "Pink Sheets": a practically-unmanaged list of OTC stocks for sale. I think Circuit City ended up in the Pink Sheets before it went completely under in 1999.

[Steve the Cynic]

Fussy point: The OTC market is a *market*, not an *exchange*. (For a long time, NASDAQ did not meet the regulatory requirements for being an exchange either.) OK, it's a technical vocabulary (jargon) thing, but the SEC will jump up and down on you if you say, in material for shareholders, that you are listed on an exchange and it turns out to be any sort of OTC listing.

[a_yank_lurker]

@Steve the Cynic - Very true about the difference between being listed on an exchange and OTC. The possible problem Violin faces if delisted would be what are the loan requirements. If they require being listed on a recognized exchange NYSE delisting could be disastrous.

[ShrNfr]

Yup. There are the gray sheets, the pink sheets and the oh sheets. I have seen totally worthless stock of companies who have declared bankruptcy and have had their shares cancelled trade on these venues. All you need is a greater fool and you can sell this stuff.

[Anonymous Coward]

Well, thanks for the Memory

Cue Violins..

Weekend! Beer!

Sorry, seen too much Yahoo reporting..

[fredesmite]

Violin is walking dead

They have laid off 50% of staff, being evicted from Great America building, and they have $120M IOU due.