Majesco's share price has again wandered south of Wall Street's Mendoza line, prompting NASDAQ to tell the maker of Cooking Mama to get it back north of $1 or face delisting from the exchange.
Sound familiar? Majesco got the same notice back in August 2008. The company's share price closed today only marginally below a buck - 99.8 cents to be exact - but it'll take more than a one-day, two-tenths of a cent rally to get them out of penny-stock jail.
Majesco has until Aug. 30 to achieve compliance - which happens when the price closes at $1 per share or more for a minimum of 10 straight trading days. If it doesn't, it'll get a notice that its securities are subject to delisting, so it's not immediate, and even then, Majesco may appeal or apply for an extended grace period.
Majesco Receives Nasdaq Delisting Warning [Industry Gamers]