BizJournals Portfolio
Mar 18 2010 1:26pm EDT

Stern Warning

No, it is not a prank phone call from a Howard Stern disciple. Nasdaq has sent a second warning to Sirius XM Radio saying the company's stock is not in compliance with its listing rules.

This is the second warning the company has received because its stock price has not stayed above the $1 threshold for 30 consecutive days. The first warning came in September, but the company appealed the delisting. The company will seek a hearing before a Nasdaq panel in an effort to stay its demotion to the Pink Sheets.

However, a demotion seems unlikely given that Sirius is one of the largest traders on Nasdaq and that the company was recently added to the NASDAQ Q-50 index.

A group that definitely sees the stock remaining on the NASDAQ is the blog Satwaves, which covers satellite radio. They break down a potential path that Sirius XM could take over the next several weeks and remain on Nasdaq.


Rick Johnston is an associate editor of Portfolio.com.

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