Pineapple Financial (PAPL) stock rallied on Wednesday after the Canadian mortgage technology and brokerage company’s shares returned to the NYSE American exchange. PAPL stock was uplisted to the NYSE American exchange yesterday following a 1-for-20 reverse stock split that increased the price of its shares to regain compliance. Prior to this, the shares were trading on an OTC exchange.
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Shubha Dasgupta, CEO of Pineapple Financial, said, “This milestone is more than a re-listing, it’s a reflection of the work we’ve done to strengthen our business, reinforce our fundamentals, and position Pineapple for sustainable growth.”
PAPL stock was up 179.72% in pre-market trading on Wednesday, following a 7.69% rally yesterday. Trading activity today is elevated, with some 15.7 million shares traded as of this writing.
Is Pineapple Financial Stock a Buy, Sell, or Hold?
Turning to Wall Street, coverage of Pineapple Financial stock is lacking. Fortunately, TipRanks’ AI analyst Spark has the shares covered. Spark rates PAPL stock an Underperform (39) with no price target. It cites “significant challenges across its financial performance, technical indicators, and valuation” as reasons for this stance.
