NYSE moves to delist New Century

Stock exchange says stock to be suspended; New Century to trade on 'Pink Sheets.'


NEW YORK (CNNMoney.com) -- The New York Stock Exchange moved Tuesday to suspend shares of New Century Financial, the troubled subprime lender, from trading on the exchange.

The NYSE (Charts) noted that New Century's lenders had cut off financing or had notified New Century that they intended to do so.

New Century was listed on the NYSE under the symbol NEW (Charts). The stock has lost about 90 percent of its value since the start of the month on news of growing defaults and problems getting new financing.


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