New York, Jan 13: Satyam is sinking. Its not just that the shares of Satyam have descended in India, it is much more worst in Wall Street. Satyam shares on the New York Stock Exchange (NYSE) plunged over 90 per cent, to below the $1 mark.
The American Depository Shares of Satyam on Monday, Jan 12 dropped below the $1-mark in opening trade from its previous close of little over $9 on Jan 8. However, despite the nosedive, Satyam will continue to trade on the NYSE. The NYSE says it will delist Satyam shares only if its average share price goes below $1.
Over 30 trading sessions of the Satyam stock had been halted on the NYSE for three days. However, when it opened on Monday, Jan 12 it suffered massive losses.
OneIndia News (With inputs from Agencies)