Mossimo’s Shares Dip After Delist Report
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Mossimo Inc.’s shares slumped Tuesday after trading resumed for the first time since Thursday.
The Irvine sportswear designer’s stock fell to a 52-week low of 25 cents before rallying to close at 63 cents a share, off 25 cents. A total of 366,600 shares changed hands, nearly four times the average daily volume over the past three months.
On Monday, the NYSE announced that it had moved to delist the shares, which will be suspended before the Big Board opens Friday. Mossimo attorney Peter Gilhuly said the company’s stock will probably begin trading soon over the counter.
A trio of creditors last week filed a petition to force the Irvine company into bankruptcy liquidation.
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