Stock Market Question Help!!! Thanks?

Question

I just bought 50 shares of FMP FELDMAN MALL PROPERTIES. ONE OF THEIR MALLS IS LOCATED IN MY TOWN, AND THE MALL IS BOOMING NOW THAT FMP AQUIRED IT. I BOUGHT THE SHARES ON THE REGULAR NYSE MARKET. TODAY FMP ANNOUNCED OUT OF THE BLUE THAT THEY ARE SWITCHING OVER FRON THE NYSE TO THE OTC. CAN SOME ONE PLEASE TELL ME WHAT THIS MEANS FOR ME AND MY SHARES.

Answer 1

I hate to be the bearer of bad news but this article http://www.newsday.com/business/ny-bzfel...

says they lost the listing because they don't meet NYSE standards anymore. The good news is that the stock is up today.

Answer 2

You should get the amount of money refunded to you. I had a similar situation when a position wen to the canadian exchange. It may take a few weeks, but keep track and call someone if it gets to be a longer than expected wait. Good Luck!

Answer 3

Generally, it's not a good thing when a stock goes from NYSE to OTC as it means it no longer meets the listing requirements of the NYSE. For you it means less liquidity and less transparency in company's reporting.