Ault Alliance regains NYSE American compliance

EditorNatashya Angelica
Published 05/02/2024, 03:12 PM
AULT
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LAS VEGAS - Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company, announced on Wednesday that it has successfully regained compliance with the NYSE American's continued listing standards concerning the minimum share price requirement. This development comes after the company received a Deficiency Letter from the exchange on November 12, 2023, warning of non-compliance due to its low stock price.

The NYSE American had given Ault Alliance a deadline until May 13, 2024, to demonstrate a sustained improvement in its share price. The company's efforts to meet the required standards have led to the NYSE American confirming Ault Alliance's full compliance with the listing standards set forth in Part 10 of the Company Guide. Consequently, the ".BC" designation will be removed from the AULT trading symbol, and the company will no longer be listed as noncompliant on the NYSE American's website.

Milton Todd Ault III, Founder and Executive Chairman of Ault Alliance, expressed his enthusiasm about the company's return to compliance, emphasizing the company's ongoing commitment to enhancing stockholder value and aligning the company's public valuation with its long-term objectives.

Ault Alliance's business portfolio includes ownership and operation of a data center for Bitcoin mining and hosting services, involvement in various industries through subsidiaries and strategic investments, such as metaverse platforms, oil exploration, and medical/biopharma, among others. The company also provides credit to selected entrepreneurial businesses through a licensed lending subsidiary.

The announcement is based on a press release statement, and Ault Alliance encourages interested parties to review their public filings and press releases for further details. The company has made clear that it will continue to focus on growth by acquiring undervalued businesses and disruptive technologies with potential global impact.

This news follows the company's previous disclosures and updates regarding its compliance status and does not reflect any new forward-looking statements. The company has reiterated its policy of not updating forward-looking statements publicly in response to new information or future events.

InvestingPro Insights

In light of Ault Alliance's recent announcement of regaining compliance with NYSE American's listing standards, it is important for investors to consider key financial metrics that provide a deeper understanding of the company's position.

According to real-time data from InvestingPro, Ault Alliance has a market capitalization of approximately $8.79 million, reflecting the market's current valuation of the company. Despite a revenue growth of 32.99% in the last twelve months as of Q4 2023, the company is grappling with significant challenges.

InvestingPro Tips suggest that Ault Alliance operates with a significant debt burden and may have trouble making interest payments on its debt, which is a critical consideration for investors. Moreover, the stock is trading at a low Price / Book multiple of 0.2, which could indicate that the market is undervaluing the company's assets relative to its share price, or it could also reflect investor concerns about the company's financial health and future prospects.

The company's stock price has experienced high volatility, with a 1-month price total return of -20.55% and a 6-month price total return of -90.79%, highlighting the risks associated with investing in the stock. Ault Alliance does not pay a dividend to shareholders, which may influence the investment decisions of those seeking regular income from their investments.

For investors seeking additional insights and a comprehensive list of metrics to evaluate Ault Alliance's financial health, InvestingPro offers more tips and data points. To access this valuable information and enhance your investment strategy, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Note that there are 15 additional InvestingPro Tips available for Ault Alliance, which can be found at https://www.investing.com/pro/AULT.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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