Cano Health (CANO) Misses Q2 EPS by 40c, Substantial Doubt on Ability to Continue as Going Concern

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Go back to Cano Health (CANO) Misses Q2 EPS by 40c, Substantial Doubt on Ability to Continue as Going Concern

Cano Health (CANO) stock crashes 40% after going concern warning

August 11, 2023 6:22 AM EDT

(Updated - August 11, 2023 7:06 AM EDT)

Cano Health (NYSE: CANO), a healthcare provider, saw its shares plummet by more than 40% after the company issued a going concern warning and announced that it is exploring a potential sale.

Cano Health revealed that it currently lacks sufficient liquidity to cover its operating, investing, and financing needs for the next 12 months.

Management has concluded that there is substantial doubt about the Companys ability to continue as a... More