Solar equipment maker Spire removed from Nasdaq
Spire Corp. (Nasdaq: SPIR), a developer of solar photovoltaic equipment and systems and biomedical processing services, has been delisted from the Nasdaq.I know, I know. YASF. Yet Another Solar Failure. You'd think with all this global warming, what, with the sun being ZOMG HOTTER and whatnot, and with the ZOMG OZONE HOLE, that there would be more than enough solar power to go around. Companies should be making money hand over fist with all the free sunlight, right?
The delisting comes after the company received a notice from the Nasdaq Stock Market (Nasdaq) advising the company that the bid price for the company’s common stock had closed below the $1 per share minimum required. The company was given 180 days to regain compliance and then in December 2012 the company was given another 180 days or until June 24, 2013 to show compliance. The company did not regain compliance and on July 5, 2013, the company was officially delisted from the Nasdaq.
What is this, like the tenth? Fifteenth? alternative energy company that has gone teats-up in the past five years? You'd think that after a while, after watching alternative energy company after alternative energy company charge headfirst over the bankruptcy cliff, the remaining lemmings would get the hint and put their money into something more stable, like tulip futures. Then again, when you can get millions of taxpayer dollars just for putting "Solar" in your company name ("Jay G.'s Solar Gun Shop"!), why not, right?
Obviously producing a product that people, you know, actually want to buy isn't part of the business plan here...
That is all.