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Buy.com delisted by Nasdaq

The Nasdaq national market delisted Buy.com shares on Tuesday, the online retailer said. Nasdaq notified Aliso Viejo, Calif.-based Buy.com earlier this year that it faced delisting if it could not maintain a stock price of $1 a share. Buy.com's stock, which has not traded above $1 since January, closed at 17 cents per share on Monday. Last week, Buy.com announced that founder Scott Blum has agreed to buy the company for about $23.2 million, or 17 cents per share. The deal, which Buy.com management has already approved, is subject to shareholder approval.

The Nasdaq national market delisted Buy.com shares on Tuesday, the online retailer said. Nasdaq notified Aliso Viejo, Calif.-based Buy.com earlier this year that it faced delisting if it could not maintain a stock price of $1 a share. Buy.com's stock, which has not traded above $1 since January, closed at 17 cents per share on Monday.

Last week, Buy.com announced that founder Scott Blum has agreed to buy the company for about $23.2 million, or 17 cents per share. The deal, which Buy.com management has already approved, is subject to shareholder approval.