By  on January 31, 2020

J.C. Penney Co. Inc. has been notified that it’s no longer in compliance with New York Stock Exchange listing criteria requiring companies to maintain an average closing share price of at least $1 over a consecutive 30 trading-day period.

J.C. Penney now has six months to get the stock back above the NYSE’s share price requirement or else get delisted. It could get an extension if the retailer comes up with a way to remedy the situation that would require shareholder approval. The company received the same NYSE warning last year, but the stock did get back over the $1 mark, and was lifted after its chairman Ronald Tysoe purchased 1 million shares.

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