Boston-based telehealth company Amwell Health has fallen out of compliance with the New York Stock Exchange’s minimum stock price requirement. The company’s stock price needs to be over $1 for 30 consecutive days, but it was trading at $0.74 per share. Amwell plans to gain compliance with a reverse stock split pending approval at its annual meeting. The company went public in 2020 with a $742 million IPO and reported revenue growth in 2020. However, it posted a significant loss in Q1 2023 due to a goodwill impairment charge. Amwell projects improved financial performance in the coming years.
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NYSE notifies Amwell Health it’s at risk of being delisted
