McDermott said on Friday it was formally notified by the NYSE that the average closing price of the company’s shares of common stock had fallen below $1.00 per share over a period of 30 consecutive trading days, which is the minimum average share price for continued listing on the NYSE.
McDermott’s stock last closed above $1 on November 7 when it closed at $1.38 per share. The following day, Friday, November 8, it closed at $0.97 per share. On Friday, December 13, McDermott’s stock closed at $0.83 per share.
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