Tuesday, January 8, 2008
© Copyright 2014
Gwinnett Daily Post
DULUTH - Duluth-based Concurrent Computer Corp. (Nasdaq: CCUR), a provider of digital on-demand systems to the broadband industry and real-time computer systems for industry and government, is facing the possibility of being dropped from the Nasdaq stock exchange, if it doesn't get its stock bid price up.
Company officials announced Dec. 28 that Nasdaq had notified the company of its potential delisting because its stock price had traded below $1 for 30 consecutive business days prior to that date. The company has until June 23 to bolster its price.
Its stock closed at 81 cents Monday.
Kirk Somers, executive vice president for investor relations, said cable stock prices affected Concurrent's price.
"The stock has been under a lot of artificial pressure (because) cable stocks have been significantly down the last six months," Somers said.
If natural momentum does not move its price up, the board would consider several options that might include a reverse stock split, a move to the Nasdaq capital market or a stock buy back to raise its price, he said, adding the company has 83 million shares on the market.
Concurrent stock traded at $1.80 on Jan. 7, 2007. It reached its highest five-year price of $6 in January 2004.