800 flowers stock dropping like a stone

[Excptnl]

:spintongu

 

[BOSS]

$1.71 at today's close http://finance.yahoo.com/q?s=flws

I wonder at what point they would be de-listed ? Cathy?

 

[Excptnl]

arent they delisted when they go below $1.00 ?

 

[duanermb]

Did you see this article that is in the headlines below BOSS link? WTF?

http://www.cnbc.com/id/29255505/site/14081545?__source=yahoo|headline|quote|text|&par=yahoo

So people are making the gesture, sending the flowers, but they're not spending on big items like they used to. And florists may have benefited from the fact that Valentine's day was on a Saturday, prompting some people to send flowers on Friday, others on Sunday, and it seems like that option meant more flowers were sent overall.

Reporter needs to get with the program I think.

 

[mlou]

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Yes, when your stock drops beow $1.00 for 30 consecutive business days...then they are sent a deficiency notice stating that they have 90 calendar days to correct the deficiency.

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[BOSS]

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Yes, when your stock drops beow $1.00 for 30 consecutive business days...then they are sent a deficiency notice stating that they have 90 calendar days to correct the deficiency.

.

Can we just call the stock exchange and tell them they're already **deficient**??

:rofl:

 

[CHR]

1-800's stock price is totally irrational - just like most of the market right now. The company does nearly $1B annually, yet the market cap is below $200K based on the stock price. Ridiculous.

The problem is, there's no consumer confidence and flowers, being discretionary purchases, look like a really bad investment ATM. UNTD got hit based on the FTD segment report last week, too.

You might think I'm glad to see 1-800's prices so low, but I'm not. They can't make the bottom line look better by raising consumer prices, so look out florists....

 

[Eric S]

Wow look at that.

I stopped looking after I sold my FTD stock for $21.

Just kidding.

 

[BOSS]

You might think I'm glad to see 1-800's prices so low, but I'm not. They can't make the bottom line look better by raising consumer prices, so look out florists....

So.... reading between the lines......

RUN FLORIST RUN......

 

[Dior]

I saw so many internet ads from Proflowers this year, it wasn't funny. I bet Proflowers took quite a marketshare from 1800F for VDay.

 

[Bigted]

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Yes, when your stock drops beow $1.00 for 30 consecutive business days...then they are sent a deficiency notice stating that they have 90 calendar days to correct the deficiency.

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Mary lou, my understanding is that they are "holding off" on the notices since there are so many companies that would get the notice.

 

[Joe Mioux]

$1.71 at today's close http://finance.yahoo.com/q?s=flws

I wonder at what point they would be de-listed ? Cathy?

On the NYSE, a stock has to trade below $1 for 30 consecutive days.

NASDAQ has different rules as do the other exchanges.

joe

 

[Flowerchatter03]

So what exactly happens when it falls below $1? Let's say I would buy the stock today at 1.00 per share but then it falls to .99 for 30 days. Can you still trade it or hold onto it until it rises again?

I am not trade literate so sorry if this is a stupid question.

 

[Bigted]

So what exactly happens when it falls below $1? Let's say I would buy the stock today at 1.00 per share but then it falls to .99 for 30 days. Can you still trade it or hold onto it until it rises again?

I am not trade literate so sorry if this is a stupid question.

Yes you can still trade it or hold onto it. IF the stock is delisted it will be traded on another exchange --or the pinks--but it will still be traded. The daily trade volume will probably be lower so it may be a little harder to sell exactly when you want to. However, as I said before, I'm pretty sure they have either suspended or are going very slowly on delisting for price since so many companies would be delisted.

 

[alisonm1215]

Should we call proflowers and have a sympathy order drop-shipped to them with our condolences?

on a more serious note-it doesn't make me feel any more settled being a florist in shaky economy.

 

[mlou]

On the NYSE, a stock has to trade below $1 for 30 consecutive days.

NASDAQ has different rules as do the other exchanges.

joe

They say that NYSE Euronext (NYSE/New York and Euronext/Paris: NYX) is considering relaxing the rule...but the exchange has yet to submit a formal proposal to the Securities and Exchange Commission to temporarily ease the requirement...It's only the news media suggesting it...

The Nasdaq stock market announced in October a three-month suspension of its minimum bid price and market value, and extended the suspension in December...

The NYSE has lowered the minimum market capitalization for listed stocks, it was 25 million...now it's 15 million.

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[mlou]

Of some 1950+ compnaies listed on the NYSE, about 65 companies are currently listed on the NYSE website as "noncompliant with NYSE quantitative continued listing standards...

Some of those are...Visteon Corp., Vonage Holdings Corp., Pier 1 Imports Inc., Rite Aid Corp and Lee Enterprises.

American International Group Inc. dipped below the $1-a-share level earlier this month but a capital infusion raised the value...

General Motors Corp., Ford Motors Corp, Office Depot Inc, Fairfax, Hovnanian Enterprises Inc, Citigroup and EW Scripps Co are trading around $2 a share.

Some banks, like Bank of America, will convert preferred stock to common stock to keep their head above water...

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[Joe Mioux]

isn't flwrs listed on the NASDAQ?

joe

 

[mlou]

isn't flwrs listed on the NASDAQ?

joe

Yes, but under the ticker of "flws"...

Last trade of $1.59

Last bid for 500 shares was $1.36
Last ask for 500 shares was $1.81

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[Dior]

Yep, 1.59, in spite of the fact that the markets all went up 3% yesterday.