USEC SHARE PRICE PLUMMETS 40 PERCENT

USEC’s share price plummeted about 40 percent Friday after the company instituted a reverse stock split earlier in the week in hopes of raising the share price. The stock stood at $3.41 at close of business Friday after opening at $5.65. When the 25-1 stock split went into effect on Tuesday the share price jumped from about $0.30 to around $7, but it has since fallen substantially. USEC shareholders approved the split late last month in hopes of increase share price in order to keep USEC listed on the New York Stock Exchange. The action reduced the number of authorized USEC shares of common stock by a factor of 25, with the expected effect of increasing the price per share proportionately. In May 2012, USEC received a notice from the stock exchange after its share price fell below $1.00, triggering a warning from the Exchange that the company could be delisted if the average share price did not rise.