The share price of Armtek, the Guelph based infrastructure company dropped below $1 on Friday, September 30. It now faces a delisting on the Toronto Stock exchange.
It sets the stage for two events: a reverse stock split or a take-over by another company. The Brookfield Management Group must be nervous after spending $145 million to prop up the once great company.
But perhaps, they saw something the rest of us investors failed to see.
In any event, investor confidence is now a memory.