Reddy Ice Holdings, Inc. (PINK:RDDY) is rising up from the bottom of its long-lasting downtrend and yesterday the share price almost climbed to $0.50. That positive market attitude came together with the official announcement of the stock’s delisting from the NYSE. 
RDDY closed Thursday session at $0.46 for a share after climbing to $0.49 during the day. The new closing price reflects a 31.43% increase from the previous close, while the trading volume was almost twice the average with 451,399 traded shares for the day. RDDY has thus formed a bullish chart pattern that could attract more traders today.
Reddy Ice Holdings’ SEC filings for the new year started with a far from positive announcement. After the company’s stock price had slipped down from around $3 per share in August 2011 to $0.15 at the end of December, the suspension from NYSE looked more and more probable.
Thus, on Wednesday last week, RBBY filed the 8-k that stated the listing of its stock on the NYSE were discontinued as of the market close on December 28, 2011, and the stock would be after that traded on the OTCQB market tier.
No press releases of RBBY are available currently. Its latest 10-Q shows the company has over $39 million in current liabilities and over $450 in long-term debt. Reddy Ice is a manufacturer and distributor of packaged ice products and it reported positive net income of $4.9 million for the quarter ending September 2011.
