New York Stock Exchange warns Wyoming coal producer it's at risk of being delisted
The New York Stock Exchange has warned one of Wyoming’s largest coal producers that it could be delisted, following consistent weak performance of the company’s stock.
Gillette-based Cloud Peak Energy’s common stock has been trading below $1 per share at the close of the market for 30 days in a row, prompting a notification on Wednesday that the company had six months to remedy its low stock price or it would be delisted from the NYSE.
Cloud Peak operates the Antelope and Cordero Rojo mines in Wyoming and the Spring Creek mine in Montana. The company employed about 850 miners in Wyoming as of September. It recently announced that it was considering selling itself -- among other options -- in the face of an untenable coal market. Cloud Peak was trading at 35 cents late Thursday.
Cloud Peak was the only large Wyoming player that did not file for bankruptcy during the coal downturn, when three large coal firms operating in the state sought Chapter 11 protection.
Read more: https://trib.com/business/energy/new-york-stock-exchange-warns-wyoming-coal-producer-it-s/article_8a58b14e-ab60-55de-ad55-f90831ffeef5.html
