The Channel logo


By | Chris Mellor 9th May 2016 11:58

Violin faces second NYSE delisting threat

Needs to get capitalisation back up to compliance levels

Violin Memory is facing a second NYSE delisting threat.

The company makes all-flash arrays and its revenues have been so low for so long as to result in a falling share price.

The NYSE, which lists Violin’s shares, told it by letter on April 27 that it was facing delisting because its average capitalisation over a 30-day period was below the $50m minimum level.

Violin’s capitalisation is currently $31.32mn. The company will tell the NYSE with 45 days of the letter’s receipt how it will regain compliance within an 18-month period, during which its stock will continue to be listed, if its plan is accepted by the NYSE.

How it will do this is going to be interesting, as it will involve, we think, producing better trading results which should, hopefully, cause its share price to rise, and hence its market capitalisation.

In mid-January the NYSE threatened Violin with delisting because its stock price had been less than $1.00 on average for 30 days. Violin said it would get the stock price back up up above the $1.00 level. It’s currently at $0.31 and has been less than $1.00 continuously since December 29, 2015. ®

comment icon Read 5 comments on this article or post a comment alert Send corrections


Baby looks taken aback/shocked/affronted. Photo by Shutterstock

Kat Hall

Plans for 2 million FTTP connections in next four years 'not enough'
Microsoft CEO Satya Nadella

Chris Mellor

Thousands of layoffs announced as spinning rust enters its death spiral


Locker room jocks photo via Shutterstock
Best locker-room strategy: Avoid emulating AWS directly
STRASBOURG, JUNE 29, 2016: The seat of the European Parliament. by Marco Aprile for shutterstock. EDITORIAL USE ONLY
Plan b, image via Shutterstock
EU workers, new markets: post-Brexit pressure on May & Co
Tough question, pic via Shutterstock