Landon Capital

In a recent announcement, Cano Health (NYSE: CANO) disclosed that it has been served with a notice from the New York Stock Exchange (NYSE) indicating its non-compliance with the Listing Rule. The basis for this notice stems from the fact that the average closing stock price of Cano Health’s Class A common stock fell below the $1.00 per share threshold over a continuous 30 trading-day period.

According to NYSE regulations, Cano Health now has a six-month window, starting from the date of the notification, to regain compliance and ensure that its stock price maintains a consistent presence above the $1.00 mark.

To address this compliance issue, Cano Health has communicated its intention to the NYSE. The company is actively exploring various strategies aimed at enhancing the value of its stock. Among the options under consideration, one stands out: a potential reverse stock split.

The news of Cano Health’s non-compliance saw a minor impact on its stock value, with CANO showing a modest increase of +0.75%, reaching a trading price of $0.3617.

As the company evaluates its strategic options and takes measures to restore compliance with NYSE regulations, investors and stakeholders will be closely watching for developments in the coming months.