Why do I get such a strong feeling of deja vu? Haven’t I seen headlines like this before? Wasn’t this all supposed to be behind SGI?
Silicon Graphics, Inc. (SGI) (Nasdaq: SGIC) announced today that it received a notification letter from The Nasdaq Stock Market on December 2, 2008, indicating that, for 10 consecutive trading days preceding the date of the letter, the market value of the SGI’s listed securities had been below the minimum $35 million requirement for continued inclusion on The Nasdaq Stock Market pursuant to Nasdaq Marketplace Rule 4310(c)(3)(B) (the “Market Value of Listed Securities Requirement”).
You can read the full press release from SGI at http://www.sgi.com/company_info/newsroom/press_releases/2008/december/nasdaq.html
Personally I think the time is ripe for Silicon Graphics to take themselves private, and concentrate on R&D and doing what they do, well, without having to keep a corrupt and incompetent stock market happy.
Disclaimer: I run my own business and I’ve been stung heavily by banks over the last year or so.