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.