Penny Stocks to Trade on the NYSE?

Amazing but the New York Stock Exchange announced that due to major company stocks trading at penny prices, it is considering temporarily relaxing its $1 share price rule.  Go Penny Stocks!

NYSE Euronext may temporarily ease a requirement for New York Stock Exchange companies to maintain a share price of more than a $1 to prevent a wave of delistings after the Standard & Poor’s 500 Index fell to a 12-year low.  "This is something we are considering given the current market conditions," Richard Adamonis, a spokesman for NYSE Euronext, said in an interview today.

Under the current rules, the NYSE may start delisting proceedings for companies whose 30-day average price falls below $1. The process may be halted if the stock slide reverses or a company does a reverse split to boost the share price.  A true sign of the times America.

SOURCE: http://www.bloomberg.com/apps/news?pid=20601087&sid=aAvFOhfgN4ME&refer=h...