Buy.com delisted by Nasdaq

The Nasdaq national market delisted Buy.com shares on Tuesday, the online retailer said. Nasdaq notified Aliso Viejo, Calif.-based Buy.com earlier this year that it faced delisting if it could not maintain a stock price of $1 a share. Buy.com's stock, which has not traded above $1 since January, closed at 17 cents per share on Monday.

Last week, Buy.com announced that founder Scott Blum has agreed to buy the company for about $23.2 million, or 17 cents per share. The deal, which Buy.com management has already approved, is subject to shareholder approval.