CACHE’S STOCK PRICE PROBLEM: Cache Inc. said in a regulatory filing that it received notice on Oct. 8 from the Nasdaq Stock Market that it has until April 6, 2015, to regain compliance to keep its stock listed on the exchange.
Notices are sent out when a listed securities don’t meet the required minimum bid price of $1.00 a share for 30 consecutive days. Cache has the next 180 days to regain compliance, which it can do by having a closing bid price of at least $1.00 for a minimum of 10 consecutive business days. If Cache fails to meet this requirement by April 6, it may be eligible for an additional six months grace period in which it can try to regain compliance.
Shares of Cache closed on Friday at 73 cents. The last time it closed at $1.00 a share was on Sept. 2.