Majesco Entertainment Company gets a delisting notice from the Nasdaq.
After the recent appointment of a new board member, Majesco Entertainment Company (COOL) received a delisting warning from the Nasdaq for being unable to maintain a market capitalization above $35 million for 10 continuous days between March 16 and April 16. In order to defend its position on the Nasdaq Capital Market, Majesco will be required to request a hearing before a Nasdaq Listing Qualifications Panel. Although shares of Majesco will remain listed until the panel reaches a verdict, there is no guarantee that the company can win its appeal.
Shares of Majesco fell 4.89 percent to $1.52 in trading yesterday. Currently, Majesco's market value is at $36.23 million, exceeding the minimum requirement.