Stock exchange warns Titan about low share price
Titan International Inc. has been notified by the New York Stock Exchange (NYSE) that its common stock has fallen below the NYSE's continued listing criteria relating to minimum share price.
The NYSE requires that a company's common stock trade at a minimum average share price of $1.00 over a 30-day trading period. At the close of the market on Friday, Titan's stock (which trades under the symbol "TWI") was trading at $.93 a share, compared to a 52-week high of $5.50 and a low of $.60.
Under NYSE guidelines, Titan must return to compliance with the continued listing criteria within six months following receipt of the NYSE's notification, subject to certain NYSE conditions.
Should Titan's shares cease being traded on the NYSE, the company believes "that an alternative trading venue will be available."