Quorum shares will stay on New York Stock Exchange following a warning in April


Quorum shares will stay on New York Stock Exchange following a warning in April

By MATT BLOIS

Shares of the Franklin-based hospital chain Quorum will stay on the New York Stock Exchange after the company received a warning earlier this year.

In April, the stock exchange notified Quorum that its market capitalization was less than $50 million for a 30 day trading period, throwing it out of compliances with the requirements for listing.

Last month, the company submitted a plan showing the stock exchange how it plans to raise its market capitalization.

On Thursday afternoon, the company’s market capitalization was about $46.6 million. This year, Quorum shares dropped from a high of about $3.50 in January to a low of about $1.00 in April. On Thursday shares were selling for about $1.50.

In a press release, Quorum reported that the stock exchange had accepted the business plan. The company now has an 18-month period to raise its market capitalization to remain listed on the exchange.

The stock exchange will also be monitoring the company’s progress quarterly.

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