NEON delisted from Nasdaq
Fiber wholesaler NEON Communications was delisted from the Nasdaq National Market this morning.
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The company, which operates in the Northeast and mid-Atlantic areas, was removed from trading because it failed to maintain a market capitalization of $5 million and a minimum closing bid price of $1 for 30 consecutive trading days. It does not intend to contest the action.
NEON has been looking to restructure its debt load over the past several months and reported a $4.43 net loss per share for the first quarter.
--Toby Weber, Staff Writer
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© 2012 Penton Media Inc.
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