Acclaim revealed today that it received a warning notice from Nasdaq, because the company's shares have not closed at or above $1 for 30 consecutive trading days.
The company has until July 23 to regain compliance, which could be achieved via a reverse stock split, a massive stock repurchase by the company, or other means. If it cannot comply by July 23, it may have to move to the Nasdaq SmallCap market.
Shares of Acclaim closed at 54 cents today, just a penny above its 52-week low -- which was set Wednesday.
