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Emmis Communications Corp. Message Board

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  • ScottW2000 ScottW2000 Oct 20, 2009 2:11 PM Flag

    Ten Bottles of Beer on the Wall,

    Indianapolis-based media company Emmis Communications Corp. is halfway home to maintaining its listing on the NASDAQ stock exchange.

    NASDAQ notified Emmis in September that it would be delisted from the exchange if the company’s stock didn’t rise above the minimum bid price of $1 per share for 10 straight business days before March 15.

    Emmis shares closed Monday at $1.50, marking five straight days in which its stock price has exceeded the $1 benchmark.

    Emmis’ string of closings above $1 began on Oct. 13, when shares ended the day at $1.15. Shares hadn't traded for more than $1 in more than a year. The stock price rose to $1.32 last Wednesday and was relatively unchanged the next day before rising to $1.46 on Friday. Shares climbed to $1.50 on Monday, marking their highest closing since September 2008.

 
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