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Emmis Communications Corp. Message Board

  • ScottW2000 ScottW2000 Oct 26, 2009 6:54 PM Flag

    IBJ Report:Emmis stock closes at $1.53, avoids delisting

    Shares of Indianapolis-based Emmis Communications Corp. closed Monday at $1.53, the 10th straight day the stock has finished trading above $1—preserving the company's listing on the NASDAQ stock exchange.

    INDIANAPOLIS - NASDAQ warned Emmis last month that it would be delisted from the exchange if the company's stock didn't rise above the $1 minimum for 10 days in a row; March 15 was the deadline.

    The rebound began on Oct. 13, when shares closed at $1.14, up 24 cents from the day before. Prior to that, the stock hadn't closed above $1 in more than a year. It bottomed out at 24 cents in July.

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