NYSE set to suspend Calpine stock
NYSE set to suspend Calpine stock: Financial News - Yahoo! Financebizjournals.com
NYSE set to suspend Calpine stock
Monday December 5, 10:05 am ET
The stock of Calpine Corp. is set to be delisted by the New York Stock Exchange by the start of Tuesday's trading, the company said on Monday.
The NYSE cited as reasons the abnormally low selling price of Calpine's (NYSE:CPN - News) common stock, which closed on Friday at 28 cents a share, and the company's current financial condition.
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The company said it expects its stock to be traded on the over the counter bulletin board.
The company recently disclosed that there is "substantial risk" that it won't have sufficient cash to satisfy a recent Delaware Chancery Court order and its ongoing debt services obligations and operating expenses.
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