Mel Karmazin and Sirius XM Satellite Radio are back in Nasdaq’s good graces.
The satcaster says the stock exchange told Sirius XM it is now in compliance with all Nasdaq listing standards, including the minimum bid price requirement.
Sirius XM’s stock closed at $1.14 Tuesday, fulfilling the Nasdaq requirement that stocks listed on the Nasdaq Global Select Market close at one dollar or more for 10 consecutive days.
Sirius XM also said that now its board will not need to consider a reverse stock split.
