Becker's Healthcare April 9, 2024
For the second time in just shy of a year, Clover Health is facing a possible Nasdaq delisting.
In an April 5 filing with the Securities and Exchange Commission, Clover disclosed that it received a notice from Nasdaq that its stock had closed below the minimum $1 per share threshold for 30 consecutive days. The company has until Sept. 30 to regain compliance.
To regain compliance, Clover’s stock must close at $1 or above for 10 consecutive business days, according to the filing. If it fails to regain compliance in that time span, Clover may be eligible for an additional 180-calendar day compliance period if it switches from the Nasdaq Global Select Market to the Nasdaq Capital Market.
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