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First Ecom.com share price falls below $1, jeopardizes NASDAQ listing

Electronic credit card processing firm First Ecom.com, whose plight was highlighted in the previous edition of Offshore Alert, officially became a penny stock during December. On December 27, 2000, the company's share price fell to just 59 cents on the full NASDAQ system, compared with a high of $34 on the over-the-counter market just ten months earlier.