QC HoldingsвЂ™ presence in Overland Park is certainly one good reason why Kansas City is oftentimes regarded as a geographical neurological center for the realm of payday lending.
QC Holdings runs nearly 400 payday that is retail name and installment loan shops around the nation. But as regulators take a better look at the techniques utilized by payday loan providers, so that as legal actions against those organizations loom, the short-term, high-interest financing company gets tougher.
Stock costs for QC Holdings took a beating on Monday, days following the business announced it’s going to stop trading on Nasdaq on February 11. Shares will proceed to Pink Sheets, an exchange that is over-the-counter much less strict reporting requirements than organizations noted on Nasdaq or perhaps the nyc stock market.
The organization cited a brief history of low trading volume additionally the expenses related to detailing on an exchange that is majorregulatory conformity, accounting and legal fees) as reasons behind moving away from Nasdaq.
Share charges for QC Holdings opened at $1.12 a share on Monday and quickly dropped as little as 54 cents вЂ” a lot more than half their value. During the right time with this writing, stocks traded for 62 cents with one hour kept in trading. QC Holdings shares traded since high as $4.89 a share on April 29, 2011, a period as soon as the recession began fading but economic pressures on households had not.