Finance Of America Receives Continued Listing Standard Notice From The NYSE
Portfolio Pulse from Benzinga Newsdesk
Finance of America Companies Inc. (FOA) has received a notice from the New York Stock Exchange (NYSE) regarding its non-compliance with the continued listing standards. The company's average closing share price was below the required minimum of $1.00 over a consecutive 30 trading-day period. FOA has six months following receipt of the notice to regain compliance with the minimum share price requirement. During this period, FOA's common stock will continue to be traded on the NYSE, subject to compliance with other listing standards. The company intends to consider available options to resolve the deficiency and regain compliance.
December 15, 2023 | 9:35 pm
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Finance of America Companies Inc. (FOA) has been notified by the NYSE of non-compliance with the minimum share price requirement. The company's stock price has been below $1 for over 30 days, and it now has six months to regain compliance. FOA's stock will continue to trade on the NYSE during this period.
Receiving a notice of non-compliance from the NYSE is a negative signal to the market, indicating that the company's financial health may be in question. This can lead to a decrease in investor confidence and potentially a further decline in the stock price in the short term. The company's plan to address the issue may provide some reassurance, but until a concrete plan is enacted and shows results, the uncertainty is likely to weigh on the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100