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Clever Leaves Holdings (NASDAQ:CLVR) (NASDAQ:CLVRW) has undertaken a 30-to-1 share consolidation to maintain its listing on the NASDAQ amid declining share prices. The company also reported a $3.6 million net loss for the quarter ending June 30, with revenues nearing $5 million. Shares of CLVR were down 9.85% at $4.12 per share after the bell on Monday evening.
August 28, 2023 | 10:10 pm
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Clever Leaves Holdings has undertaken a 30-to-1 share consolidation to maintain its NASDAQ listing amid declining share prices. The company also reported a $3.6 million net loss for the quarter ending June 30.
The company's decision to undertake a 30-to-1 share consolidation indicates a struggle to maintain its NASDAQ listing due to declining share prices. This, coupled with the reported net loss for the quarter, could negatively impact investor confidence and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Clever Leaves Holdings, also listed as CLVRW on NASDAQ, has undertaken a 30-to-1 share consolidation to maintain its listing amid declining share prices.
As with CLVR, the company's decision to undertake a 30-to-1 share consolidation indicates a struggle to maintain its NASDAQ listing due to declining share prices. This could negatively impact investor confidence and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100