Freddie Mac said it is considering a reverse stock split to push the price of its common stock above $1 a share and continue its listing on the New York Stock Exchange. The NYSE recently warned the mortgage giant, which is operating in a government controlled conservatorship, that its stock could be de-listed since it has been trading below $1.00 a share. Under NYSE rules, Freddie has until May 18 to bring its share price and its average share price for 30 consecutive days above $1.00. "Freddie Mac has advised the NYSE that it may undertake a reverse stock split in order to cure the deficiency by the May 18, 2009 date," the company said.
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