NEWSBRIEF
BY MARKANDERSON
WPTE In Danger Of Being Delisted
August 21, 2021
The NASDAQ Stock Exchange may be forced to remove World Poker Tour Enterprises (WPTE) stock from its listings if its stock doesn't improve significantly, soon.

Despite in the past trading as high $29 a share, lately WPTE stock has been trading at a paltry dollar or less, and it has done so long enough to defy NASDAQ rules. According to the rules of the Exchange, no stock can close below a dollar for 30 consecutive days and still be in compliance (WPTE stock hasn't closed above a dollar since July 1, 2021).

The WPTE have been sent an official NASDAQ Staff Determination letter notifying them of their lack of compliance and giving them just 180 days to correct the problem (by trading above $1.00 for at least ten days in a row). If WPTE cannot successfully demonstrate compliance, they will be delisted from the Exchange.

180 days is a long time, and the WPTE seems to believe they are now taking the necessary steps to resolve this problem. During their most recent earnings report statement, officials expressed confidence with the new direction the company is taking, hoping these new steps "will demonstrate value to the investment community and regain NASDAQ compliance."

The WPTE has begun making some big changes lately which should help them facilitate this goal. Recently, the company announced a new partnership with FSN, both to broadcast the World Poker Tour and to create new independent programming. They've also announced they will be putting an even greater emphasis on their ClubWPT venture - a subscription-based poker site which shrewdly sidesteps all UIGEA restrictions. Given all these new changes, confidence in the WPTE may just be justified and their stock could possibly even be on the verge of rallying.

For story in it's entirety, please visit the Independent Online Poker Authority, PokerNews.com
COMMENTS
No comments.