The company said the average closing price of its stock had dropped below $1 minimum price for 30 consecutive trading days. The retailer said it plans on notifying the exchange “that it intends to cure the deficiency and return to compliance with NYSE continued listing requirements.”
Aéropostale said it has six months to “cure this deficiency” under NYSE rules. “The company intends to consider available alternatives, including, but not limited to, a reverse stock split, in order to cure the stock price deficiency and return to compliance with the NYSE continued listing requirement,” it said in a statement.
Shares of the retailer fell 4.2 percent to close at 58 cents. The 52-week low is 55 cents, and the high is $4.39.