Already suffering economically and having just consulted industry experts on how to turn its business around, now Monaco has received notice from the New York Stock Exchange that they will be delisted if things don't improve.
The same thing happened to Fleetwood recently and they still haven't gotten back on the NYSE listings.
Monaco was given notice on January 6, 2009 that it failed to comply with NYSE standards that required their common stock maintain an average closing stock price of over $1 per share for 30 consecutive trading days. As this is being typed, it's down to 63 cents from the day's start at only 81 cents.
Monaco has ten days to notify NYSE that it intends to get its value back up.
Perhaps more ominous was the NYSE note in the letter that Monaco's average market capitalization over a recent 30 trading day period was less than the minimum $25 million allowed by NYSE and for that reason alone NYSE could have immediately suspended trading and delisted Monaco stock.
Preceding the notice have been a flurry of changes of significant shares ownership notices filed by Monaco, at least 9 different SEC filings.
So what's it all mean? Nothing good, we suspect.
If you've got a Monaco needing warranty repairs, you better get it in the shop soon. There may come a point where dealer's won't do the work without you paying, if the factory stops paying for it.
Meanwhile, if you've got a lemon Monaco coach, now is the time to do something about it. Email or call us toll free right now at 1.888.331.6422.
Burdge Law Office
Because life is too short to put up with a bad Rv.