NYSE suspends trading in Wyoming coal company's stock as price bottoms out

The New York Stock Exchange suspended trading in Cloud Peak Energy on Tuesday due to the Gillette-based coal company’s sustained low stock price. Cloud Peak Energy was warned in December that the exchange would delist the firm if the stock price — which had been trading under $1 per share for 30 days — didn’t improve within six months. The firm chose not to pay a recent debt payment, which if not paid within 30 days will place the company in default. The choice has been noted as a potential precursor to a bankruptcy filing. Cloud Peak was trading at just 16 cents per share Tuesday. Cloud Peak operates the Antelope and Cordero Rojo mines in Wyoming and the Spring Creek mine in Montana. It employs about 20 percent of the full-time miners in Wyoming’s Powder River Basin coal sector...MORE