CART was warned earlier this month that due to its share price dropping under the $1 mark for more than 30 consecutive days of trading on the NYSE it risked being unceremoniously dumped unless it could come up with a strong argument as to how it would recover.
With a takeover bid due to be voted on by shareholders at the end of next month, CART immediately announced it would make no such bid to stay on the exchange and has since switched to the less prestigious exchange.
At close of business last night, CART stock was trading for just $0.50 per share.
For the full details of CART’s fall from grace, the plans behind the takeover bid, and what it will mean to the sport, see the extensive range of features contained with the sportbusiness.com
