A sign of the times. There are so many stocks on the New York Stock Exchange below $1 dollar, the NYSE is considering relaxing it's rule that listed stocks be above a $1 dollar evaluation. In other words, many Fortune 500 and other large multinational corporations are now penny stocks.
With many major companies trading in penny-stock territory, the New York Stock Exchange is considering relaxing a rule that requires shares to trade above a dollar.
Some NYSE-listed companies trading below $2 a share right now include automakers General Motors Corp. and Ford Motors Corp.; retailer Office Depot Inc.; and media company E.W. Scripps Co.
NYSE-listed companies already trading below $1 a share include the bailed-out insurer American International Group Inc. and home builder Hovnanian Enterprises Inc.