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Tualatin-based Pixelworks faces delisting
01:05 PM PST on Friday, December 28, 2007
TUALATIN, Ore. (AP) -- Pixelworks Inc. is facing the possibility of being delisted from the stock exchange because of continued low share price.
The NASDAQ told the company, which is headquartered in Tualatin, that it must bring its stock price above $1 for at least 10 straight business days by June 23 or face delisting.
Pixelworks makes computer chips for high-end TVs, a struggling market. The company's shares have closed below $1 every day since mid-November.
Last week, Pixelworks chief executive Hans Olsen announced he will take temporary leave from the company to deal with an unspecified health issue.
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