GILLETTE, Wyo. (AP) — The New York Stock Exchange has suspended trading of Wyoming-based Cloud Peak Energy.
The Gillette News Record reported Tuesday that the NYSE cited the stock’s “abnormally low” price levels.
The NYSE says the suspension came after the coal producer’s stock opened at 16.2 cents per share; it closed at 15.565 cents after the suspension.
The News Record reports the NYSE warned Cloud Peak Dec. 26 that it could be delisted because its stock fell below $1 per share for at least 30 consecutive days.
The newspaper reports the suspension comes within two weeks of a 2018 year-end report in which the company says there is “substantial doubt about our ability to continue as a going concern.”
The newspaper’s call and email to the company were not immediately returned.
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Information from: The Gillette (Wyo.) News Record, http://www.gillettenewsrecord.com
