Tile Shop Stock Crashes 68% on Plans to Delist [The Motley Fool]
TILE SHOP HOLDINGS (TTS)
Last tile shop holdings earnings: 7/23 06:00 am
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US:NASDAQ Investor Relations:
investors.tileshop.com
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Source: The Motley Fool
Tile Shop Stock Crashes 68% on Plans to Delist What happened Shares of Tile Shop Holdings ( NASDAQ:TTS press release small-cap So what This announcement seems to have caught investors flat-footed and is driving enormous selling activity. At this writing, nearly 9 million shares have already traded hands, just under one-fifth of the company's entire float, in a single day. Image source: Getty Images. Why is Tile Shop doing this? The money quote from the release came from CEO Cabell Lolmaugh: "We've undertaken a thorough and thoughtful review of our cost structure, including costs associated with being a Nasdaq-listed and SEC reporting company. After careful consideration, our Board of Directors decided to voluntarily delist from Nasdaq and deregister with the SEC as we believe the savings that will benefit our shareholders outweigh the advantages of continuing as a Nasdaq-listed and SEC reporting company." Now what You may be wondering how the company can even do this. In short, securi
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