The New York Stock Exchange has notified Arch Coal that it no longer meets the stock exchange’s minimum price requirement, the coal company said Friday.
The NYSE requires listed common stock to average at least $1 per share for any period of 30 consecutive trading days; if not, the stock is at risk of being delisted. As of May 15, Arch’s average price for the 30-day period was 99 cents, the company said. On Friday, the shares closed at 66.2 cents, which puts that 30-day average at 93.6 cents, according to data from Thomson Reuters.