Well, Ultimate Escapes' tenure on a major stock exchanged ended before it really had much of a chance to get started.
After failing to complete a secondary offering to meet the exchange's listing requirements the country's second largest destination club succumbed to the delisting process.
You won't find the stock under the old UEI ticker symbol anymore. It now trades on the OTC Bulleting Board as ULEI -- though you may have to punch it in as ULEI.OB on some stock quote services including Yahoo! Finance.
Where does UE go from here? The delisting is humbling. It will have to get by without the money it was planning to raise. Still, life -- and luxury vacations -- go on. The stock may have hit a new low of $1.85 today, making it that much harder to use its stock as legal tender to snap up a smaller club or possibly buy new properties, but the club lives on to fight a new day.
Tuesday, February 23, 2010
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