Freddie Mac's Stock May be Delisted from NYSE
Freddie Mac (FRE) said Friday morning in a filing with the Securities and Exchange Commission that the company was notified by the New York Stock Exchange that it had failed to satisfy one of the NYSE's standards for continued listing of its common stock -- in particular, the so-called $1 dollar rule. Freddie's common stock has traded below $1.00 per share for the past 30 days, prompting the warning. The GSE said its common and preferred stock would potentially be suspended and delisted unless it provides a plan by Dec. 2 outlining a plan to restore the stock's daily trading price. The GSE said it was "currently working with its conservator, the Federal Housing Finance Agency, to explore options relating to this deficiency and has not yet determined its response or any specific action that it will take as a result of the exchange's notice." Write to Paul Jackson at email@example.com. Disclosure: The author held no relevant investment positions when this story was published. Indirect holdings may exist via mutual fund investments. HW reporters and writers follow a strict disclosure policy, the first in the mortgage trade.