Regis Announces Intent To Appeal NYSE Determination To Commence Proceedings To Delist Regis' Common Stock
Portfolio Pulse from Benzinga Newsdesk
Regis Corporation (NYSE:RGS), a leader in the haircare industry, is set to appeal the NYSE's decision to delist its common stock. The company failed to comply with the NYSE's listing standard, which requires maintaining a minimum of $50 million in stockholders' equity or market capitalization. Regis' stock continues to trade on the NYSE while the appeal is pending.
December 15, 2023 | 7:59 pm
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Regis Corporation is appealing the NYSE's delisting decision due to non-compliance with listing standards. The stock continues to trade on the NYSE during the appeal.
The news of a potential delisting is generally negative for a company's stock as it reflects financial instability and non-compliance with exchange regulations. Although the stock is still trading, the uncertainty surrounding the appeal process and the potential for delisting could negatively impact investor sentiment and the stock price in the short term.
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IMPORTANCE 90
RELEVANCE 100