Mortgage lender Freddie Mac (FRE) could be de-listed from the NYSE, continuing the troubles that have plagued financial exchange traded funds (ETFs) for much of this year.
Since the company’s share price has been under $1 for more than 30 days, they have been warned of their possible removal. They have been given six months to rectify the situation. The NYSE requires that the average closing price of a stock remain above $1 per share.
Freddie Mac has six months from Nov. 17 to bring its common stock and average share price for 30 consecutive trading days above $1, reports the Associated Press.
Oil prices have remained supported by stocks as of Friday. However, the health of the oil industry is limited. The recent reflection of the drop in oil displays how correlated oil remains to equities which leaves the possibility for more volatility, reports George Jahn for Associated Press.