- Apr 12, 2001
Apple sapphire supplier GT Advanced Technologies' woes continue today with the announcement that it will not appeal the suspension of its stock on the NASDAQ stock exchange. As part of this decision, the company's stock is no longer being traded on the NASDAQ stock market effective today, October 16. This removal was expected and is the result of the company's recent Chapter 11 bankruptcy.
GT's stock plummeted 90 percent following its bankruptcy announcement earlier this month, and has continued to fall since then, closing at just 44 cents per share yesterday. The stock will continue to trade under the symbol GTATQ on the OTC Pink marketplace.GT Advanced Technologies Inc. today announced that it will not pursue an appeal of the determination by The NASDAQ Stock Market LLC ("NASDAQ") to suspend trading in the Company's common stock based on the Company's voluntary petition for reorganization relief under Chapter 11 of the United States Bankruptcy Code. The Company has been informed that NASDAQ will suspend trading in the Company's common stock effective at the opening of the market on October 16, 2014.
Article Link: Apple Sapphire Supplier GT Advanced Technologies Removed From NASDAQ Exchange