Circuit City warned by Big Board

Circuit City has run into the same problem Rite-Aid had a few weeks ago -- their stock price has dropped so low they're in trouble with the NYSE.

On Friday, Oct. 24, NYSE told the chain it was “below criteria” because the average closing price of the company's common stock was less than $1 per share over a consecutive 30-trading-day period, as of Oct. 22.

Circuit City’s stock price closed today at 29 cents per share.

Rite-Aid dealt with the problem through a reverse stock split, which would seem to be the most likely approach for Circuit City as well. Dealing with CC's underlying problems is another matter.