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Gatehouse evicted from NYSE floor

Gatehouse Media Inc., the Perinton-based publisher of the Canandaigua Daily Messenger and several weekly newspapers and shoppers in the Rochester area, is no longer being traded on the floor of the New York Stock Exchange because its shares have dropped below $1.05.

Gatehouse evicted from NYSE floor

Gatehouse Media Inc., the Perinton-based publisher of the Canandaigua Daily Messenger and several weekly newspapers and shoppers in the Rochester area, is no longer being traded on the floor of the New York Stock Exchange because its shares have dropped below $1.05.
Gatehouse (NYSE: GHS) continues to be traded on electronic markets, including NYSE’s Arca subsidiary, NYSE managing director of communications Scott Peterson said Thursday.
Gatehouse has been under an “operational trading halt” since July 15, when shares dropped to 98 cents. To return to floor trading, the stock must trade above $1.10 for an entire day.
Shares have been below a dollar since July 25, and have not closed at $1.10 or more since July 14.
If shares on average trade below $1 for 30 days, Peterson said, a “warning letter” will be sent to Gatehouse advising the company that its stock could be delisted if the price does not rise above $1 in six months.
A stock can be delisted at any time, he added, particularly when its trading is “abnormally low.”
Gatehouse shares were at 60 cents midday Thursday. They have been as high as $17.43 and as low as 51 cents over the last 52 weeks.

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