Power Solutions Delisting Debacle Leaves Retail Investors Powerless
The delisting was first reported by The Fly via a client alert from S&P Dow Jones Indices. The alert from S&P Dow Jones Indices read, "S&P Dow Jones Indices announced that, effective prior to the open on Thursday, April 20, it will remove Power Solutions International from certain indices following its delisting from NASDAQ and listing on Pink Sheets."
What's extremely notable about the S&P Dow Jones Indices alert is that this delisting notice was published prior to the official release by the regulatory body, Nasdaq. In other words, it seems the Nasdaq may have made a little slip in its dissemination protocol.
"Little slip" to some, potentially huge deal to others. A 30 percent decline is nothing to scoff at -- especially for a retail investor who may have been long Power Solutions shares.
Within the final hour of the regular trading session, Benzinga received verbal confirmation from Nasdaq, S&P Dow Jones Indices and the OTC Markets that Power Solutions shares will indeed be delisted on Thursday. However, this type of news dissemination does very little for a retail investor who is still likely awaiting official release from the Nasdaq.
The stock closed Tuesday at $6.29, down 31.1 percent.
Elizabeth Balboa contributed to this report.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.