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Business

Hauppauge Digital avoids being knocked off the Nasdaq exchange

Hauppauge Digital Inc. has narrowly avoided having its stock delisted from the Nasdaq exchange.

The computer video electronics maker was under pressure by the stock exchange to keep its closing stock price at or above $1 for ten days straight.

The deadline was mid-May.

Just in time -- beginning April 27 -- the company's price strengthened, and it met the Nasdaq requirement.

“The closing bid price of the Company’s common stock was at or above $1.00 per share for the ten consecutive business days ending on May 21, 2010,” Hauppauge said in a Securities and Exchange Commission filing.

As a result, “the Company has regained compliance… (and) this matter is now closed.”

The stock price, though, didn’t stop its rise at the $1 range.

It really began to soar – quadrupling in a couple of days – after it issued a May 13 press release saying its TV tuner boards could wirelessly stream live television to Apple’s iPad.

It closed at $3.11 Tuesday.

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