Nasdaq has ceased all trading in shares of internet consultancy MarchFirst until the ailing business provides further information on its status.
MarchFirst’s stock, which closed at just 16 cents before sales of its shares were halted, has been in freefall recently amid rumors that it would axe up to 3,500 jobs, restructure its business, sell assets and even file for bankruptcy. However, company officials have so far kept tight-lipped about what exactly the company plans to do.
Some insiders expect an announcement today.
News source: Advertising Age - Interactive Daily