San Antonio-based Abraxas Petroleum Corp. has been given six months to raise its 30-day stock price above $1 per share to avoid being removed from the Nasdaq exchange, the company told investors Wednesday.
The company said it received a letter from the exchange on Tuesday warning it of an imminent delisting should it be unable to raise its stock price, which has been priced below $1 per share since July 16. Abraxas (Nasdaq: AXAS), whose stock price closed at 49.7 cents on Aug. 28, said it “intends…
