Analyst Summary
- ChargePoint received a notice from the NYSE for non-compliance with Section 802.01C due to low average closing price.
- The company plans to notify the NYSE by March 5, 2025, of its intent to cure the deficiency.
- ChargePoint may consider a reverse stock split to regain compliance, subject to stockholder approval.
- The notice does not immediately delist the company’s stock, and trading will continue on the NYSE during the cure period.
Opportunities and Risks
- Opportunity: Regain compliance with NYSE listing standards through various measures, including a reverse stock split.
- Risk: Failure to regain compliance could lead to delisting from the NYSE.
- Risk: Stockholder approval is needed for a reverse stock split, which may not be guaranteed.
Potential Implications
Stock Price
- Potential for stock price increase if the company successfully regains compliance with NYSE listing standards.
- Potential for stock price decrease if the company fails to regain compliance and is delisted.