Delisting can be a sign of financial instability, said Sterling Jenson, managing director of institutional investments for Wells Fargo's Intermountain region. Other Utah companies that have been threatened with delisting also are struggling. It is appealing a Feb. 14 warning letter from Nasdaq. The Salt Lake company, which makes clean manufacturing rooms for the semiconductor and pharmaceutical industries, was delisted April 11 because its stock price was too low. It closed at 88 cents that day.
Shareholders are concerned.
Most are very supportive. Because of the appellate process, we feel confident we can help their concerns. Jenson said a company's chances of being relisted on a major exchange are small.