LookSmart to be Booted from NASDAQ

LookSmart reported that they received a delisting notice from NASDAQ staff on October 13. This is because of the fact that shares in the search company had failed to remain above the $1.00 level, NASDAQ began the process of removing LookSmart from its stock-board under MarketPlace Rule.

LookSmart is allowed to request an appeal which will delay delisting pending a decision from the NASDAQ Listing Qualifications Panel.

Looks like with Google's increasing market share, we will have more of these News.