Joe's Jeans isn't the only sub-$1.00 stock at risk of being delisted. Xerium Technologies Inc. was also warned at the end of last year that their NYSE listing was in jeopardy. Not only was the stock's price too low, but the company's market cap and shareholder equity were also under the NYSE's requirement. In the meantime though, Xerium submitted a plan the NYSE liked well enough to keep XRM listed at least through the middle of this year, and if certain conditions are met, the stock will remain listed at least through late 2010. However, it's a little tough to directly link that good news with today's and Friday's higher-volume gains... the news came out in late March. Delayed reaction? Maybe, but more likely it's just recognition that Xerium is still profitable, and grossly undervalued even if the economic turmoil persists. (The twelve-month P/E is 1.30 for cryin' out loud.) The paper manufacturing supplier has certainly struggled along with most other paper manufacturers, but the industry isn't dead. Xerium just needs enough of a boost to push the stock above $1.00. With that understood, the perk up in volume and the stock's price over the last few days really didn't make a big dent - the chart is still in consolidation mode. A potential breakout is present, but we've seen a lot of resistance around the all-important $1.00 area.
$0.73 (04/13/09)
