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Stein Mart faces possible Nasdaq delisting

July 09, 2019 / Ben Unglesbee

Nasdaq has put Stein Mart on notice that the retailer doesn't currently meet its requirements for trading on the stock exchange, Stein Mart said in a securities filing on Monday.The discount department store's stock sold for under $1 for more than 30 days, prompting the notice from Nasdaq. The company has until Jan. 6 of next year to regain compliance, which would require its stock to close at a price of more than $1 for 10 consecutive days.Stein Mart said it plans to monitor its stock price actively and take action to remain compliant with Nasdaq's rules.