Fierce Healthcare April 8, 2024
The Nasdaq is warning Clover Health, again, that it could get delisted from the exchange after its stock price fell below $1 per share for 30 consecutive days.
If it sounds like deja vu, it is. The insurtech was similarly warned this time last year, before the company reported it achieved compliance in July when its stock price finished above $1 per share for 10 straight days.
Clover Health had scheduled a shareholder’s meeting announcing the company’s intent to initiate a reverse stock split, but Clover regained compliance organically, so no vote took place.
The company once again has 180 days, or until Sept. 30, to regain Nasdaq compliance. Clover said it will “consider all available options to regain compliance,”...
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