SpectraSite’s stock is falling out of sight. On the markets, at least.
Nasdaq will remove SpectraSite (Nasdaq: SITEQ) from the Nasdaq Small Cap Market effective Nov. 26, the Cary-based cellular tower operator said late Thursday night that. SpectraSite also said it would not appeal the ruling.
The company already has filed for bankruptcy protection. Its stock is at 7 cents a share.
In a statement, SpectraSite said Nasdaq cited the bankruptcy filing and failure to meet various requirements for listing (such as stock price) led to the delisting decision.