cos1000

Big Stocks Under a Buck

In addition TMA executed a RS at the end of October and issued new shares to pay debt, no cash, on Nov 1st this year, before being notified of being delisted from NYSE not NASDAQ.

Big Stocks Under a Buck

----Thornburg Mortgage (TMA) was just suspended from trading on the NYSE. Its price has been below $1 for too long. It trades at $.30. Extraordinary, because it 52-week high is $140.50.----

The above is Doug McIntyre's opening line to Shinkle's referenced article on 24/7.

Below is a more in depth explanation of TMA's delisting from the NYSE.

------(TMA), Thornburg's stock price failed to meet a minimum standard earlier this year that its average closing price remain above $1 over 30 consecutive trading days. Thornburg had six months to correct the problem, but was unable to do so.

Shares of Thornburg closed Tuesday at 30 cents.

Thornburg said the delisting does not constitute a default under lending agreements.

Thornburg has been hit hard since the middle of 2007 by the ongoing mortgage and credit market turmoil. Not only has mortgage lending volume declined, Thornburg has been forced to drastically reduce the value of its investments in mortgage securities as investors have shied away from purchasing all but the safest forms of debt.-----------

Mortgage Securities would be sub prime, mortgage backed securities, that are currently being written off by most financial institutions and also lead to the Bear Sterns debacle... How does one compare this to Sirius Xm Radio???