Business

NYSE reviews AMR Listing as shares plunge on bankruptcy filing

NYSE Euronext is reviewing the listing status of AMR Corp. stock, which plunged today after the company filed for bankruptcy.

AMR declined 82 percent to 32 cents a share as of 11:41 a.m. in New York. It was halted for more than three hours after the company announced the filing. Swings (AMR) in the stock triggered at least 15 more five-minute pauses under exchange circuit breakers designed to limit volatility.

While shares are trading today, the NYSE said it may move to suspend AMR should it receive evidence that the price will be “abnormally low,” according to a statement. It may also stop trading if NYSE Regulation gets “authoritative advice that the securities are without value,” or fall below the exchange’s listing requirements, the statement said.

Full story: http://www.bloomberg.com/news/2011-11-29/nyse-to-review-amr-listing-after-company-files-for-bankruptcy.html