What's Going On With Evolve Transition Stock Today?
Portfolio Pulse from Ryan Gustafson
Evolve Transition Infrastructure LP's (AMEX:SNMP) common units surged after the NYSE American lifted the trading suspension on the stock. The company's delisting determination was withdrawn and trading resumed on July 31. However, delisting proceedings may be enacted again if the company does not comply with the continued listing standards by June 6 next year. The stock recently initiated a 1-for-30 reverse split.
July 31, 2023 | 7:48 pm
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Evolve Transition Infrastructure's stock surged after the NYSE lifted the trading suspension. However, the threat of delisting proceedings remains if the company does not meet listing standards by next year.
The lifting of the trading suspension by the NYSE has led to a surge in the price of Evolve Transition Infrastructure's stock. However, the potential for delisting proceedings to be enacted again if the company does not meet listing standards by next year could create uncertainty and volatility in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100