The Nasdaq Stock Market Inc. has notified Stocker & Yale Inc. of Salem, N.H., and Semiconductor Laser International Inc. of Binghamton, N.Y., that they are out of compliance with the listing requirements of its SmallCap Market.
Nasdaq listing rules require stocks to maintain a $1 minimum bid price; to maintain certain corporate assets, market capitalization and/or income levels; and to adopt specific corporate governance requirements. If Nasdaq "delists" a company, its stock continues to be sold, but shares are not as accessible to investors.
Stocker & Yale, a manufacturer of inspection lighting products, has appealed the ruling. At presstime, its shares were trading at around $1.50.