Earlier this year professional digital video editing system developer Media 100 Inc. (NASDAQ: MDEA) faced being delisted from the NASDAQ stock exchange because of low stock prices. Today the company noted that it has received confirmation that it won’t be delisted.
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According to NASDAQ’s rules, companies with stock prices of below $1.00 per share face being delisted. Media 100 Inc. today noted that its stock has been at $1.00 per share or higher for at least 10 consecutive trading days, thus regaining compliance with Marketplace Rule 4450(a)(5).
Media 100 president and CEO John Molinari said that his company is pleased with the decision, and noted that Media 100 is making “steady progress” with its 844/X family.
Media 100 stock closed at $1.18 with yesterday’s trading. As MacCentral posted this article, the stock was up 1.69 percent on the day at $1.20.