Avid Technology was kicked off NASDAQ in February for failing to file timely financial statements but it’s back baby!
The company’s media editing technology has been used to mix quite a few Grammy winners and played a major role in John Cameron’s cutting of Titanic. Avid even won its own Academy Award and Grammy. However, as reported by Scott Kirsner in April, it had to replace its CEO in 2013, and by the spring of 2014, the company’s stock was at a 10-year low.
But this morning, Burlington-based Avid Technologies started trading again on Nasdaq. In a statement, Avid’s John Frederick, the company’s executive VP and chief financial and administrative officer said, “We believe this milestone offers current and future Avid shareholders an exciting opportunity to share in the success of our business through improved access to our common stock. We look forward to generating sustainable, profitable growth as we continue to execute on our plan to unlock the full potential of Avid.”