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NYSE to Commence Delisting Proceedings Against Superior Industries International, Inc. (SUP)

1. NYSE starts delisting proceedings for Superior Industries International (SUP). 2. Trading of SUP stock is suspended immediately due to market cap issues. 3. Company failed to maintain a $15 million market cap over 30 days. 4. SUP can appeal the NYSE's decision to a committee of the board. 5. SEC will be involved in the delisting process after applicable procedures.

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FAQ

Why Very Bearish?

The initiation of delisting significantly damages SUP's market credibility and investor confidence. Historical cases show that such delistings often lead to a rapid decline in stock prices.

How important is it?

The article's primary focus on delisting directly impacts SUP's stock value and future trading. This situation is critical for current and potential investors.

Why Short Term?

Immediate suspension of trading likely leads to quick sell-offs. Delisting announcements typically destabilize stock prices in the short term.

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NYTGPIGM
- NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Superior Industries International, Inc. (the “Company”) — ticker symbol SUP — from the NYSE. Trading in the Company’s common stock will be suspended immediately. NYSE Regulation reached its decision to delist the Company’s common stock pursuant to Section 802.01B of the NYSE’s Listed Company Manual because the Company had fallen below the NYSE’s continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15,000,000. The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Company’s common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision. More News From NYSE Regulation

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