SFXE Closes Week At 90¢ As Stock Delisting, Bankruptcy Loom
After falling to as low at $.75 per share, stock in EDM giant SFX Entertainment closed Friday up slightly at $.90 per share. Traded on the New York Stock Exchange, SFXE can be removed from trading if its price closes below $1.00 for 30 consecutive trading days.
Wall Street watchers Seeking Alpha and other analysts say that SFXE is running out of cash and likely headed to bankruptcy.
The stock began its latest dramatic decline last Friday, after CEO Robert Sillerman missed a deadline to finance a stock buyback.
Share on:
