Emmis Avoids NASDAQ Delisting as Shares Rise

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Shares of Emmis Communications have avoided delisting by trading above $1.00 for the past ten days. The stock closed Monday at $1.53 after bottoming out at 24 cents in July. NASDAQ notified Emmis in September that it would be delisted if the company's stock didn't rise above the minimum bid price of $1 per share for 10 straight business days before March 15.

Emmis' string of closings above $1 began on October 13, when shares ended the day at $1.15, reports the Indianapolis Business Journal. Previously, shares hadn't traded for more than $1 in more than a year.