Harris Interactive Inc. announced Tuesday it has regained compliance with the Nasdaq Global Market requirements by trading at more than Nasdaq’s minimum of $1 a share.
In September, Nasdaq alerted Harris Interactive that if its shares did not meet the minimum bid price, its listing could be pulled. In a letter, the Brighton market research company was given a grace period of 180 days to raise its stock price to $1 or more for a minimum of 10 straight business days before March 15, 2010.
Prior to that, shares had been trading below a dollar fairly steadily since mid-November 2008, after falling from a price that was up to $1.73 on Sept. 18, 2008.
This afternoon, the company’s stock (NasdaqGS: HPOL) was trading at $1.03 a share.
In a letter received Nov. 24, the Nasdaq Stock Market Listing Qualifications Department advised the company it had regained compliance and would remain on the Nasdaq Global Market.
CEO and President Kimberly Till said she was pleased by the action, adding the company remains focused on increasing shareholder value through its 2010 financial goals and strategic initiatives.
The custom market research company has offices in North America, Asia and Europe. Its specialties include health care, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant and consumer package goods.
(c) 2009 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
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