Fleetwood stock trading is halted
Trading in recreational vehicle maker Fleetwood Enterprises Inc. was halted after its shares fell below $1.
The New York Stock Exchange said on its website that it took the action under the so-called sub-penny trading rule. The stock will still be listed on the NYSE and will trade on the Arca electronic market.
Fleetwood, whose shares plunged 78% this year before Monday, has lost money for eight of the last nine quarters. A slowing economy, gasoline near $4 a gallon and tighter lending standards have cut into demand for the Riverside company’s motor homes.
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