Bidz Delisted from NASDAQ
January 13, 13
(IDEX Online News) – NASDAQ decided to remove from listing the common stock of Bidz.com, finding that the company no longer qualifies for trading on the exchange. Trading in Bidz shares ends on January 22.
NASDAQ initiated a delisting process after Bidz share price fell below the $1 minimum. It was later also in violation of the independent director and audit committee requirements.
The company tried to regain compliance while seeking a buyer that would make the company private. After some difficulties, the Glendon Group recently bought Bidz.