Dive Brief:
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Fort Worth, TX-based RadioShack Corp.’s shares have traded under a dollar for more than 30 straight days, triggering a delisting warning from the New York Stock Exchange.
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The notice gives the stumbling electronics retailer six months to come into compliance.
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The retailer’s stock has been traded publicly since 1935, with its highest share price in 1999 at above $79.
Dive Insight:
RadioShack’s prospects have been dimmed lately by lenders unwilling to allow the number of store closings that were part of CEO Joe Magnacca’s turnaround plan. Plus, it’s in a business that has been losing customers for years now, with consumers buying fewer smartphones and other electronics lately, and expecting deep discounts when they do.