Youbet Moves to New Market
Updated: Friday, August 16, 2002 8:49 AM
Posted: Tuesday, August 13, 2002 3:11 PM
Youbet.com, an online racing and wagering service, had its stock listing moved to the Nasdaq SmallCap Market Aug. 9.
The transfer from Nasdaq National Market occurred because the company's stock price did not stayed above $1 per share for 10 consecutive trading days, a requirement to be listed on the market's main board. Youbet.com had until May 15 to meet the minimum standard and could not. The company did have a hearing before a Nasdaq Listing Qualifications Panel.
Youbet.com's management believes the transfer affords it additional time to operate as a Nasdaq-traded company and maintain liquidity for shareholders. The transition will not change how the company's stock is traded. Youbet.com will retain the ticker symbol "UBET," and investors should see no differences in how they obtain stock price quotes or news about the company.
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