Clover Health Investments Corp (CLOV) has disclosed a new risk, in the Share Price & Shareholder Rights category.
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Clover Health Investments Corp is facing a significant business risk after receiving notification from Nasdaq about non-compliance with the Minimum Bid Price Requirement due to its Class A common stock falling below the $1.00 threshold. The company has until September 30, 2024, to meet this requirement; failure to do so could lead to delisting, negatively impacting trading, liquidity, and the stock’s market price. While Clover Health is exploring measures such as a reverse stock split to regain compliance, there is no assurance that these efforts will sustain the stock’s listing standards or prevent future non-compliance. Delisting could result in substantial financial consequences and a potential loss of investor confidence for the company.
Overall, Wall Street has a Moderate Buy consensus rating on CLOV stock based on 1 Buy and 2 Holds.
To learn more about Clover Health Investments Corp’s risk factors, click here.
