Shares of Pier 1 ($PIR) dropped 20% on news that the NYSE had notified them that their shares could be delisted from the exchange.
The New York Stock Exchange requires stocks to maintain a value of at least $1 per share for more than 30 consecutive trading days which Pier 1 has not. They have 6 months to get their stock price up and if they don’t then their stock could be delisted from the exchange.
