J.C. Penney Received Notice That Its Stock May Be Delisted by the NYSE

J.C. Penney received a notice from the New York Stock Exchange on Tuesday saying it was no longer in compliance with continued listing criteria.The company shares haven't maintained an average closing stock price of at least $1 over the past consecutive 30-day trading period.Penney, which still has a market cap well above another trigger of $50 million, has six months from Tuesday to regain compliance, or until the company's next annual meeting in May 2020, if the company's recommended cure is a reverse stock split.By Aug. 20, or 10 days after receiving the initial NYSE letter, Penney has to tell the exchange how it plans to get its stock price up.Twitter: @MariaHalkias  Continue reading...