Welcome to Our WirelessAdvisor Community!

You are viewing our forums as a GUEST. Please join us so you can post and view all the pictures.
Registration is easy, fast and FREE!

Join Now

SunCom faces New York Stock Exchange delisting

Discussion in 'Wireless News' started by ComicalMoodyDan, Oct 2, 2006.

  1. ComicalMoodyDan

    ComicalMoodyDan Gold Senior Member
    Senior Member

    Joined:
    Dec 21, 2001
    Messages:
    6,302
    Likes Received:
    53
    Location:
    Kingsport, TN
    My Phone:
    LG Volt
    Wireless Provider(s):
    Sprint
    SunCom faces delisting
    Oct 2, 2006

    BERWYN, Pa.—SunCom Wireless Holdings Inc. has fallen below the minimum requirements for continued listed on the New York Stock Exchange, and the company said it intends to submit a plan to the exchange on how it will boost its market capitalization to meet the necessary minimum.

    According to a Securities and Exchange Commission, SunCom was notified Sept. 27 that its average market capitalization was at $92.9 million—about $7 million less than the $100 million required for listing on the NYSE. SunCom has 45 days to submit a plan to “demonstrate its ability to achieve compliance with the … listing standards within 18 months.”

    “SunCom intends to submit such a plan,” the company indicated in the filing.

    As of Oct. 4, SunCom’s stock will have a “.BC” indicator added to alert traders to the fact that the company is below listing standards.

    If SunCom doesn’t submit a plan, if the plan isn’t accepted, or if SunCom doesn’t get back into compliance, then the company’s stock will be delisted. SunCom could also have its stock transferred to another exchange.

    SunCom’s stock has recently been trading at just under $1 per share.

    SunCom faces delisting
     
    #1 ComicalMoodyDan, Oct 2, 2006
  2. M in LA

    M in LA Mobile 28 Years Plus
    Super Moderator Senior Member

    Joined:
    Sep 24, 2004
    Messages:
    8,053
    Likes Received:
    347
    Location:
    Los Angeles, CA
    My Phone:
    iPhone 13 Pro Max, XS Max
    Wireless Provider(s):
    Verizon (since 1994)
    Someone buy them out or take them over already!!:rolleyes:

    Get them out of their misery...
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
    #2 M in LA, Oct 2, 2006
  3. blsemp

    blsemp Senior Member
    Senior Member

    Joined:
    Jan 17, 2003
    Messages:
    376
    Likes Received:
    0
    Location:
    Powdersville, South Carolina
    My Phone:
    Nokia 900
    Wireless Provider(s):
    at&t
    If I remember correctly, I believe that Cingular gave SunCom over a $100 Million extra in the swap for territory during the AT&T wireless purchase. I believe that T Mobile is waiting for them to go belly up.
     
    #3 blsemp, Oct 2, 2006
  4. Jay2TheRescue

    Jay2TheRescue Resident Spamslayer
    Super Moderator Senior Member

    Joined:
    Dec 17, 2002
    Messages:
    12,405
    Cell Tower Picture Gallery:
    158
    Likes Received:
    438
    Location:
    Northern Virginia
    My Phone:
    Pixel 4a 5G
    Wireless Provider(s):
    AT&Tingular 310-410
    I agree. Suncom stock is a great value because of that. Suncom isn't just going to close up shop. If things got bad enough another carrier will buy them out to gain towers & subscribers. Personally I think TMO would be doing the current Suncom customers a great service by stepping in and buying them.

    -Jay
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
    #4 Jay2TheRescue, Oct 2, 2006
  5. ComicalMoodyDan

    ComicalMoodyDan Gold Senior Member
    Senior Member

    Joined:
    Dec 21, 2001
    Messages:
    6,302
    Likes Received:
    53
    Location:
    Kingsport, TN
    My Phone:
    LG Volt
    Wireless Provider(s):
    Sprint
    SunCom's stock has been sliding for quite some time now, their stock closed at 79 cents today. Today the stock slide down over 17% from yesterday's price.

    http://finance.yahoo.com/q?s=TPC
     
    #5 ComicalMoodyDan, Oct 2, 2006
  6. FrontierDriver28

    FrontierDriver28 New Member

    Joined:
    Feb 9, 2006
    Messages:
    39
    Likes Received:
    0
    Location:
    NC
    SunCom is a company that refuses to die. Their equipment is old and in disrepair, who would wanna acquire a company like that? TMobile will have to spend $$$$$$ fixing the service after they acquire the company. I suppose theyre waiting on a good price.

    As a SunCom customer, i absolutely cant wait until the company collapses. SunCom management has done very little to help the company or the customers.
     
    #6 FrontierDriver28, Oct 2, 2006
  7. Jay2TheRescue

    Jay2TheRescue Resident Spamslayer
    Super Moderator Senior Member

    Joined:
    Dec 17, 2002
    Messages:
    12,405
    Cell Tower Picture Gallery:
    158
    Likes Received:
    438
    Location:
    Northern Virginia
    My Phone:
    Pixel 4a 5G
    Wireless Provider(s):
    AT&Tingular 310-410
    I would venture to say that TMO is waiting till Suncom's value dips below the value of their spectrum. Then it doesn't matter what condition the equipment is in. However, you as a customer have a choice to move to another company as soon as your contract expires.

    -Jay
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
    #7 Jay2TheRescue, Oct 3, 2006
  8. FrontierDriver28

    FrontierDriver28 New Member

    Joined:
    Feb 9, 2006
    Messages:
    39
    Likes Received:
    0
    Location:
    NC
    Oh i'll definetly be moving on to a better and more reliable company. The only place i've been where the phone actually worked well was Charlotte.
     
    #8 FrontierDriver28, Oct 3, 2006
  9. Etorres777

    Etorres777 Life is good for now..
    Senior Member

    Joined:
    Jun 16, 2004
    Messages:
    1,726
    Likes Received:
    0
    Location:
    El Paso, TX
    My Phone:
    Apple iPhone 3G
    Wireless Provider(s):
    at&t Mobility
    I'm so happy that I have six carriers to choose from here.
     
    #9 Etorres777, Oct 3, 2006
  10. Jay2TheRescue

    Jay2TheRescue Resident Spamslayer
    Super Moderator Senior Member

    Joined:
    Dec 17, 2002
    Messages:
    12,405
    Cell Tower Picture Gallery:
    158
    Likes Received:
    438
    Location:
    Northern Virginia
    My Phone:
    Pixel 4a 5G
    Wireless Provider(s):
    AT&Tingular 310-410
    How long till your contract expires?


    We have 5 here, not counting the prepaids like Virgin, tracfone, & such.

    -Jay
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
    #10 Jay2TheRescue, Oct 3, 2006
  11. AndThenScottSays...

    AndThenScottSays... Junior Member
    Junior Member

    Joined:
    Feb 5, 2005
    Messages:
    125
    Likes Received:
    1
    Location:
    Greenville, NC
    My Phone:
    V3m
    Wireless Provider(s):
    Alltel, T-Mobile (prepaid)
    About a year ago I owned stock in SunCom. I saw it go up around 4 and then start plummeting. I sold at $3. It hasn't been that high since.

    Less than a month ago it was trading about twice what it is right now. Pathetic!
     
    #11 AndThenScottSays..., Oct 4, 2006
  12. Fire14

    Fire14 Easy,Cheap & Sleazy
    Senior Member

    Joined:
    Sep 27, 2002
    Messages:
    8,446
    Cell Tower Picture Gallery:
    293
    Likes Received:
    2
    Location:
    Union County NJ
    My Phone:
    EnV
    Wireless Provider(s):
    Verizon

    I wonder what they will submit to show how it will boost it's market capitalization?
    I do think T-Mobile will jump on them soon.
     
    #12 Fire14, Oct 4, 2006
  13. bobolito

    bobolito Diamond Senior Member
    Senior Member

    Joined:
    May 3, 2002
    Messages:
    12,735
    Cell Tower Picture Gallery:
    50
    Likes Received:
    53
    Location:
    in front of my computer
    My Phone:
    iPhone SE
    Wireless Provider(s):
    T-Mobile
    They will submit a proposal from T-Mobile buying them out. ;)
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
    #13 bobolito, Oct 8, 2006
(You must log in or sign up to post here.)

Share This Page

Copyright 1997-2023 Wireless Advisor™, LLC. All rights reserved. All registered and unregistered trademarks are the property of their respective holders.
WirelessAdvisor.com is not associated by ownership or membership with any cellular, PCS or wireless service provider companies and is not meant to be an endorsement of any company or service. Some links on these pages may be paid advertising or paid affiliate programs.

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
    Accept Learn More...
    Dismiss Notice