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Drive Shack (NYSE:DS) touched a new low not only for the year, but the decade on Wednesday after receiving a compliance notice from the NYSE.
The company acknowledged late on Tuesday that it received written notification from the New York Stock Exchange that it had fallen out of compliance with standards that require the common stock of $1.00 per share over a consecutive 30 trading-day period.
The company indicated in a statement that it “will notify the NYSE on or before October 19, 2022, that it intends to cure the continued listing standard deficiency.”
After the disclosure, shares fell over 10% to an intraday low of $0.45. That price marked the lowest trading price for the stock since 2009, per SeekingAlpha historical price data. Shares of the Texas-based sports entertainment company have declined over 80% in the past year.
Read more on recent leisure sector trading trends.
