For a stock to qualify for trading on the NYSE, it must meet certain criteria, such as a minimum price and minimum company value. Occasionally a stock will trade on the NYSE for less than $1, but if it remains at that level for too long, it can eventually be delisted, or removed, from the exchange.
A stock cannot close under $1 for more that 30 consecutive days.
The stock can sell for under a $1 for 29 consecutive days, but on the 30th day, if it does not close above $1, it's in violation of the NYSE minimum price regulations.
Then the company gets a violation notice, after that the company has 10 days to tel the NYSE what it plans to do, get the stock price back up, or be delisted from the exchange.
MCP first closed under $1 on November 28th,and has not closed above $1 since, so a couple more weeks and it will be at the 30 day point.
