Atlas Energy “Penny Stocks” Begin Trading Today on OTCQX

MDN previously told you that the Philadelphia-based Atlas Energy, which sold off the majority of its Marcellus assets in two different tranches for $12 billion, has fallen on hard times–at least its stock price has. The New York Stock Exchange told the company in December that its stock was in danger of being de-listed from the mighty NYSE (see Atlas Energy Luck Run Out? NYSE Threatens Company with De-Listing). On Friday the company seems to have capitulated and given up on trying to boost the stock price to above $1 per share (the minimum required to be listed on the NYSE). Atlas said that regardless of what happens with the NYSE, as of today, March 21, company shares will begin trading on the Over the Counter stock exchange, called OTCQX. That is, Atlas shares have become penny stocks…

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