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Friday, Jan 27, 2023
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Point 360 Voluntarily Delisting From Nasdaq

Point 360 will delist its shares from the Nasdaq Capital Market and will move trading to over-the-counter but still provide full financial reports, the company announced on Friday. The Glassell Park post production house said its board decided to delist because the thin trading of its shares doesn’t justify the costs to remain on the exchange. Also, the company is no longer in compliance with Nasdaq’s minimum price threshold of $1 a share. “The company will remain a reporting company under the Exchange Act and will continue to file full financial reports that will be available on the SEC’s website,” Point 360 said in a statement. The company, which has a market cap of just $3.69 million, had an average trading volume of 14,365 shares for the past three months, according to Yahoo Finance. Its share price also has been on a general downward trajectory after hitting 71 cents in late July. The switch is scheduled to occur Dec. 1, with trading over the counter to begin the next day. The stock will continue to use the ticker symbol PTSX. Shares of Point 360 closed down 5 cents, or 12 percent, to 35 cents.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.
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