Weatherford International (WFT) Becoming Penny Stock?

Weatherford international is down from $43 per share in 2008 to just 38 cents a share! The New York Stock Exchange requires WMT to trade above a dollar per share or risk being de-listed.

Weatherford International (WFT) was notified by the NYSE that the company is no longer in compliance with the listing standard which requires the trailing 30-day average closing share price to remain at or above $1.00.

The Company has notified the NYSE of its intention to regain compliance within the six-month cure period.

The company intends to regain compliance by completing its previously announced company-wide transformation plan designed to improve its 2017 EBITDA run-rate by an incremental $1 billion by year-end 2019.

The Company may also explore other available options, including a reverse stock split, if appropriate.



Please enter your comment!
Please enter your name here