Healthcare DIVE April 5, 2024
The once high-flying telehealth stock has traded below the exchange’s minimum listing requirements for 30 days, according to a new notice.
Dive Brief:
- Telehealth company Amwell is in trouble with the New York Stock Exchange for its stock price trading below the minimum standard for listing.
- Amwell was a high-flying stock during COVID-19, as the value of telehealth companies soared due to demand for virtually provided medical care. The price of Amwell’s shares peaked at $42.80 in January 2021. However, for the past 30 days, Amwell’s shares have closed at less than $1, sparking a warning notice from the NYSE.
- NYSE rules give Amwell six months to regain compliance. In a Thursday release, Amwell said it plans to effect...
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