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WPT Enterprises, the parent company of the World Poker Tour, could soon be delisted from Nasdaq.
After trading below a buck since early July, the Nasdaq stock exchange has issued a Staff Determination Letter notifying the struggling Steve Lipscomb-run company that it has not been in compliance with Nasdaq's minimum stock listing price requirements.
The WPTE, which had a net loss of $3.9 million last quarter, now has 180 calendar days to regain compliance, which will require the bid price of its stock to remain above $1 for a minimum of 10 consecutive business days. If that doesn't happen, the WPTE will then be subject to delisting.
Looking at its current stock trend (closed at 72 cents yesterday), the chances of the WPTE staying above a buck for 10 days is about the same as us not looking at Audrina Patridge's fake fun bags (thanks drunkensailor) or Kerri Walsh's butt in the photos after the jump. Under the right conditions (someone shooting our eyes out right now), it could happen. But highly unlikely.
Source: www.wickedchopspoker.com
