Why did the stock SIX change to SIXF.OB? Thank you for the help.
"On October 6, 2008, we were notified by the New York Stock Exchange ("NYSE") that we were not in compliance with the NYSE's continued listing criteria because the thirty-day average closing price of our common stock was less than $1.00, and on October 27, 2008, we were notified by the NYSE that we were not in compliance with the NYSE's continued listing criteria because the thirty-day average market capitalization of our common stock had been less than $75 million and, at the same time, our stockholders' equity had been less than $75 million. Our common stock and PIERS traded on the NYSE under the symbol "SIX" and "SIX-PB," respectively, through April 17, 2009, when they were delisted from the NYSE due to our failure to meet the NYSE's continued quantitative listing criteria. The last trading prices of the common stock and the PIERS on the NYSE were $0.13 and $0.65, respectively, on April 17, 2009. Our common stock and the PIERS have been trading in the over-the-counter market under the symbols "SIXF" and "SIXFP," respectively, as of April 20, 2009. "
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So basically they had to change symbols because they weren't making enough money to be listed by the NYSE?
Yes. They were kicked off the NYSE and had to sell their stock over the counter. SIX can only be used on the NYSE.
ok thanks :)
You're welcome.
The stock SIX changing to SIXF.OB indicates a change in the trading designation. The specific reason behind this change can vary, but in general, suffixes like ".OB" or ".PK" are used to denote specific types of securities trading on over-the-counter (OTC) markets. Let's break down the process of finding this information:
1. Stock Symbol: Identify the original stock symbol, in this case, SIX.
2. Research: Start by researching the company or stock exchange where the stock is listed. In this case, SIX refers to Six Flags Entertainment Corporation, an amusement park company.
3. Stock Exchange: Determine the stock exchange where the stock is primarily traded. SIX is listed on the New York Stock Exchange (NYSE).
4. Trading Designation: Investigate any recent news or developments that could lead to a change in the stock's trading designation. Reasons for such changes may include delisting from an exchange, migration to a different market, or regulatory requirements.
5. Over-The-Counter (OTC) Market: In some cases, if a stock no longer meets the requirements of a major exchange, it may trade on OTC markets, such as the OTC Bulletin Board (OTCBB) or the OTC Pink Sheets. The addition of ".OB" to the stock symbol, like SIXF.OB, typically indicates that the stock is trading on the OTCBB.
To gather more specific and accurate information about why the stock SIX changed to SIXF.OB, it is recommended to consult reliable financial news sources, company announcements, or contact your brokerage firm for further details.