Evergreen Solar (ESLR) Sent Deficiency Letter

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09:30:52 am on July 9, 2010

The Nasdaq has sent Evergreen Solar (ESLR) a deficiency letter due to the stock trading under a buck for several weeks.  The company has until the end of the year to get its stock price above $1 and then it must trade there for 10 business days.  If that doesn’t happen it could get a final removal notice and be delisted by the Nasdaq, but the company can appeal.  As I mentioned a few days ago, the company is looking at a reverse split to get the stock price up, but it must be approved by shareholders at a meeting on July 27th.  I’d imagine that will be approved.

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Shares of ESLR are flat today and currently trading at .70/share.

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