US: Jones Soda to lose NASDAQ listing - report
Jones Soda has seen its share price stuck below US$1 since August last year
Jones Soda is to lose its NASDAQ stock market listing tomorrow (20 September) because its shares have spent too long below the US$1 mark, according to reports.
The Seattle company will not contest the decision, the Seattle Times reported on Monday. In H1 results last month, the soda maker saw net losses slow by 38% to $2.13m.
The group's shares today were down 5% in early trading to about $0.32 from a peak of $28.22 in April 2007. They have been below $1 since August last year.
The delisting will mean less liquidity for Jones' stock, according to the report, which will continue trading on the over-the-counter OTCQB Marketplace.
Nobody from Jones Soda was available for comment.
Sectors: Soft drinks
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