Spar Group Falls Short of Nasdaq National
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Spar Group Inc., an Irvine marketing company, said Friday that its stock will begin trading on Nasdaq’s SmallCap Market beginning Monday, instead of on the Nasdaq National Market. Spar Group, created when Irvine-based PIA Merchandising Services merged with Spar Cos. of Tarrytown, N.Y., said accounting adjustments after the transaction had left its net tangible assets below Nasdaq’s threshold for a National Market listing. Trading will continue uninterrupted under the symbol SGRP. Spar shares fell 14% Friday to $3.
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