Previous Close | 0.4606 |
Open | 0.5000 |
Bid | 0.4750 x 800 |
Ask | 0.4820 x 1100 |
Day's Range | 0.4750 - 0.5000 |
52 Week Range | 0.3100 - 4.3800 |
Volume | |
Avg. Volume | 593,771 |
Market Cap | 73.839M |
Beta (5Y Monthly) | 0.98 |
PE Ratio (TTM) | N/A |
EPS (TTM) | -1.8200 |
Earnings Date | Nov 07, 2023 - Nov 13, 2023 |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | N/A |
1y Target Est | 3.94 |
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SAN DIEGO, September 21, 2023--Cue Health (Nasdaq: HLTH), a healthcare technology company, today announced that its Board of Directors has unanimously approved the adoption of a limited-duration shareholder rights plan (the "Rights Plan") to protect the long-term interests of all shareholders. The Board adopted the Rights Plan in response to a rapid accumulation of shares by a third party. The Rights Plan is effective immediately and has a one-year term, expiring on September 20, 2024.
Tarsadia Investments wants Cue Health to review its strategy, including a possible sale, to help reverse its stock plunge of 98% in the last two years. The investment firm, which owns just under 5% of the diagnostic company's shares, also wants it to cut costs and add a shareholder director, according to a letter, sent on Thursday. Cue Health's value has been nearly wiped out since it went public in September 2021.
Tarsadia Investments is urging Cue Health to review its strategy, including options for a possible sale, to help reverse its stock plunge of 98% in the last two years, according to a letter seen by Reuters. The investment firm, which owns just under 5% of the diagnostic company's shares and invests for wealthy families, also wants it to cut costs and add a shareholder director, said the letter, which was sent to the board on Thursday. Tarsadia wants drastic action after Cue Health's value has been nearly wiped out since it went public in September 2021.