Retail Industry
Industry: Email Alert RSS FeedCredit good at Buy.com.(Brief Article)
Video Business, August, 2001
* After much speculation that it would shut down this week, beleaguered Internet retailer Buy.com at the last minute renewed its contract with its current credit card service company and averted that fate. More than 90% of its business is based on credit card transactions. Earlier this month, Buy.com founder Scott Blum bought most of the company's stock.
That same week, Nasdaq delisted the Aliso Viejo, Calif.-based company for having a share price below $1 since January and no immediate remedies to boost the stock. It will now trade on the OTC Bulletin Board, a market for penny stocks.
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