Good News for Radio One Stock

Another sign that the economy must be back on track

A year after receiving a deficiency notice from Nasdaq for a stock price below the minimum listing requirements, Radio One is back in compliance. Radio One received the notice on its class D stock on October 20, 2008, but Nasdaq soon after that suspended delistings until August of this year due to the economic environment.

Radio One has now received notice from Nasdaq that, with its class D shares (ROIAK) closing above $1 for 10 consecutive trading days as of October 15, the company is back in compliance and the matter is closed. The letter also confirmed that Radio One's Class A shares (ROIA) are in compliance with continued listing rules.

In mid-afternoon trading Monday, Radio One's class A shares were down 8 cents, at $1.77, and the class D shares were up 4 cents, at $1.70.

Is Cathy Hughes saying we're number one or we're up above a dollar?

Source: Radio Ink