Inspire Veterinary Partners (IVP) stock rocketed higher on Monday despite a lack of news from the U.S. veterinary hospitals owner and operator. There’s no press release or Securities and Exchange Commission (SEC) filing today that explains why the stock is rising. However, that doesn’t mean these gains are without reason.
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Turning back to last week, investors will note that Inspire Veterinary Partners revealed a delisting notice from the Nasdaq. It was served this notice on Nov. 13 and announced it on Nov. 17. This notice was due to the low price of the stock and warned the company that its shares would be delisted on Nov. 20 if it didn’t appeal the decision.
Considering today is Nov. 24 and shares of IVP are still traded on the Nasdaq exchange, it would appear the company did appeal this decision. While it’s unclear if the Nasdaq will extend the listing of IVP stock until the company can remedy its low trading price, today’s news was still a positive catalyst for investors.
Inspire Veterinary Partners Stock Movement Today
Inspire Veterinary Partners stock was up 64.44% in pre-market trading on Monday, following a 2.26% dip on Friday. The shares have fallen 97.47% year-to-date and 97.7% over the past 12 months.
Investors will also note that IVP stock has experienced heavy trading today. This saw more than 135 million shares change hands this morning, compared to a three-month daily average of about 136,000 units.
Is Inspire Veterinary Partners Stock a Buy, Sell, or Hold?
Turning to Wall Street, analyst coverage of Inspire Veterinary Partners is lacking. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates IVP stock an Underperform (37) with no price target. It cites “significant financial and technical challenges” as reasons for this stance.
