If you were to type into your trusty Google search engine – or Bing if you’re a rebel without a cause – Aeropostale’s stock ticker “ARO,” you will see that the company’s 1 day stock chart reads “no chart available.” This is because the New York Stock Exchange has delisted the teen-apparel retailer’s stock due to its “abnormally low” price.
Aeropostale said in a statement Friday morning that the NYSE suspended trading effective immediately, and said it “does not intend to appeal the delisting determination.”
Aeropostale Inc. closed yesterday 27.70% down on the day with its per share price of $0.15 before being halted for pending news. As the company’s stock price continued to fall, Bloomberg News reported that Aeropostale unsurprisingly is preparing to file for bankruptcy.
The clothing retailer will be trading beginning this Friday on the OTCQX Best Market, which is operated by OTC Markets Group Inc., under the symbol “AROP” – if, of course, you may still be interested in purchasing stock in a company that is preparing for bankruptcy.
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