Nasdaq threatens to drop Pacific Ethanol from list

SACRAMENTO, Calif., - Pacific Ethanol Inc., which operates a plant at Boardman, has been warned by Nasdaq officials it no longer qualifies for listing.

Nasdaq, a New York-based stock exchange, notified Pacific Ethanol it does not comply with the $1 minimum bid price requirement for continued listing on The Nasdaq Global Market.

Nasdaq has given Pacific Ethanol a 180-day period, or until March 14, 2010, in which to regain compliance.

"It's not a big deal, honestly," said Paul Koehler, Pacific Ethanol vice president. "Our intent here is to continue to be listed on the exchange."

Pacific Ethanol's prices have climbed in the past month, but fell this week.

At least one stock analyst, SmarTrend Spotlight, said Pacific Ethanol showed an uptrend Aug. 24 when it was selling at 50 cents per share.

Pacific Ethanol closed Thursday at 53 cents per share, after opening at 60 cents and climbing to 62 about 10 a.m.

source: eastoregonian