Friday, September 18, 2009

Autobytel Gets NASDAQ Warning On Share Price

Irvine-based Autobytel, a provider of automotive marketing services and lead generation services to auto dealers, reported this morning that it has received a warning letter from the NASDAQ about the firm's closing bid price. According to Autobytel, the notification from the NASDAQ said that, in the preceding 30 consecutive business days, the closing bid price of Autobytel's common stock has been below the $1.00 minimum bid price per share required for listing on the NASDAQ Global Market. Autobytel said it has until March 15, 2010, to regain compliance with the requirement. Autobytel said it is "considering actions" that it might take to regain compliance. The warning letter is one of the first steps in possible delisting of the firm's stock from the exchange.