Cano Health shares are trading lower after the company reported worse-than-expected Q2 financial results, withdrew its guidance and said it is pursuing a sale process. The company also expressed doubt over its ability to continue as a going concern.
Portfolio Pulse from Benzinga Newsdesk
Cano Health reported worse-than-expected Q2 financial results, withdrew its guidance, and announced it is pursuing a sale process. The company also expressed doubt over its ability to continue as a going concern, leading to a drop in its share price.
August 11, 2023 | 12:20 pm
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Cano Health's Q2 results were below expectations, and the company withdrew its guidance and announced a sale process. This has led to a decrease in its share price.
Cano Health's poor Q2 results and the withdrawal of its guidance indicate financial instability, which is likely to negatively impact investor confidence and lead to a decrease in its share price. The announcement of a sale process further adds to this uncertainty.
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